The “cromnibus” spending bill has produced something for practically everyone to hate, and at the top of the list for organized labor is a proposed amendment that could cut benefits for elderly retirees who draw their income from troubled multiemployer pension plans.
The proposal, introduced by Reps. John Kline, R-Minn., chairman of the House Education and Workforce Committee, and George Miller, D-Calif., would allow trustees of underfunded multiemployer pension plans to reduce benefits paid to retirees to avoid insolvency.
