Benefits & Executive Compensation News

Flurry of Pension Rescue Filings May Indicate Renewed Confidence

April 17, 2017, 8:54 PM

Four more financially beleaguered multiemployer pension plans are testing the rescue application waters, seeking Treasury Department permission to cut benefits.

The four plans include the Portland, Ore.-based Western States Office & Professional Employees Pension Fund, which filed on Feb. 22, and the New York-based Local 805 International Brotherhood of Teamsters Pension & Retirement Plan, which filed March 22. They were joined on March 29 by the Troy, Mich.-based International Association of Machinists Motor City Pension Fund and on March 30 by the Anchorage, Alaska-based Alaska Ironworkers Pension Plan.

The recent flurry of applications may indicate a renewed sense of optimism...

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