Pensions
Senate Parliamentarian Ruling Keeps Pension Bailout Alive
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
Multiemployer pension reform has been ruled eligible to be included in the $1.9 trillion COVID-19 relief package.
The provision would beef up the PBGC and provide a boost for multiemployer and single-employer plans. But it would also freeze COLAs.
Under a new proposal, 6% in new contributions would be made by the country’s employers to sustain retired citizens above the poverty line.
New system will be consolidated from 42 separate plans into one.
Macron’s controversial strategy to stabilize the retirement plans' finances threatens to paralyze the economy.
Bill targeting quasi-governmental agencies gets state Senate OK, and Gov. Matt Bevin, its author, signs shortly after.