Possible cuts to pensions have Nebraskans, Iowans on alert

[Omaha Steve]

http://www.omaha.com/news/nation/possible-cuts-to-pensions-have-nebraskans-iowans-on-alert/article_3345af6d-6440-563a-98fa-ff853e2797cb.html

POSTED: TUESDAY, SEPTEMBER 15, 2015 12:30 AM
By Joseph Morton / World-Herald Bureau

WASHINGTON — Nebraskans and Iowans who receive benefits through federally guaranteed multi-employer pension plans should keep an eye on what’s happening in Washington.

Funds that are facing financial challenges soon could start cutting retiree benefits under a law Congress passed with little fanfare at the end of 2014.

The Treasury Department held a hearing last week to receive public input on implementing that law — a session that drew hundreds of workers protesting the potential cuts.

That included more than a dozen Nebraskans and Iowans decked out in T-shirts that read: “The government is throwing us under the trucks we drove.” Many of those speaking at the hearing criticized Congress for passing the law.

FULL story at link.

[dixiegrrrrl]

1. Tip of the iceberg.

Almost all pension funds are in trouble, for various reasons, and solutions are not to be found.