Local 805 Pension Fund can begin cutting benefits as of Jan. 1.
Tag: multiemployer Pension Reform Act
International Association of Machinists Motor City Pension is the fourth fund to receive approval.
Approval is the first under the Multiemployer Pension Reform Act of 2014.
New application raises return assumptions and lowers proposed reductions.
Bill would repeal benefits reduction option provided by Multiemployer Pension Reform Act of 2014.
New York-based plan expected to resubmit application with revised assumptions.