News

House approves bill to allow multiemployer pension plan benefit cuts


Trustees of financially distressed multiemployer pension plans would be allowed to cut participants’ benefits to prevent the plans from becoming insolvent under legislation narrowly approved by the House of Representatives Thursday night.

Benefits could be cut if a plan is projected to become insolvent during a current plan year or any of the next 14 years, or any of the next 19 years if the plan’s ratio of inactive participants to active participants exceeds 2-to-1 or if the plan is less than 80% funded.

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Ebola Guidance

The New York Committee for Occupational Safety and Health (NYCOSH), has released a three-page guidance document on Ebola Virus Disease and how workers can protect themselves. We recently met with management to discuss the MTA’s readiness plan.  MTA has released Read more…