Freightmaster1
TB Legend
- Credits
- 598
https://freebeacon.com/issues/pension-fix-deadline-passes/
Karen Friedman, policy director at the Pension Rights Center, said her group is "optimistic" about current talks in Congress. The last major push to address traditional retirement systems came in 2015 when the Obama administration approved the Multiemployer Pension Reform Act, which allowed struggling funds to cut benefits for retirees. The committee's draft shifted the conversation to compromise, rather than turning to the cuts that have seen some workers and pension recipients suffer 70 percent cuts to their retirement benefits.
"There were some promising aspects of the proposal … there's going to be a shared responsibility of shouldering this burden instead of just [focusing] on retirees," Friedman said. "It is progress that the Joint Special Committee is balancing the interests of retirees with other stakeholders instead of putting them last."
Karen Friedman, policy director at the Pension Rights Center, said her group is "optimistic" about current talks in Congress. The last major push to address traditional retirement systems came in 2015 when the Obama administration approved the Multiemployer Pension Reform Act, which allowed struggling funds to cut benefits for retirees. The committee's draft shifted the conversation to compromise, rather than turning to the cuts that have seen some workers and pension recipients suffer 70 percent cuts to their retirement benefits.
"There were some promising aspects of the proposal … there's going to be a shared responsibility of shouldering this burden instead of just [focusing] on retirees," Friedman said. "It is progress that the Joint Special Committee is balancing the interests of retirees with other stakeholders instead of putting them last."
