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Risk of pension meltdown grows due to inaction by U.S. Congress

January 21, 2020

From the Reuters website

The window is closing on the chance to avert a pension meltdown that will slash the retirement benefits of more than a million U.S. workers.

Lawmakers in Washington have been working on ways to protect the benefits promised to participants in multiemployer pension plans, which are created under collective bargaining agreements and jointly funded by groups of employers in industries like construction, trucking, mining and food retailing.

Last year, the U.S. House of Representatives and Senate laid out blueprints with very different visions for solutions and failed to reach any agreement on a way forward.

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