
Pensions
Musicians Pension Fund Reapplies for Benefits Cuts
Previous application to Treasury Department had been rejected over mortality, new entrant rate assumptions.
The Building Material Drivers Local 436 pension plan is expected to run out of money by 2023.
Cincinnati roofer, Niagara Falls electrical worker plans are 16th and 17th funds affected.
Pension lifeboat will provide three annual payments of $8.9 million to merged plan.
Pension becomes only the second fund to be approved for cuts under Klein-Miller.
Pension becomes only the second fund to be approved for cuts under Klein-Miller.
New application raises return assumptions and lowers proposed reductions.