The Western Pennsylvania Teamsters Plan implemented a benefit suspension under the terms of the Multiemployer Pension Reform Act of 2014 (MPRA) The plan reduced benefits of about 15,000 plan participants. On average, affected participants’ benefits were reduced by 20 percent.
The plan will receive $715 million in SFA, including interest to the expected date of payment to the plan. SFA will enable the plan to pay retirement benefits without reduction for many years into the future.
“The Special Financial Assistance approved today means that these 21,110 transportation workers and retirees will receive the full retirement benefits they earned,” said US ...
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IBM reached a settlement with the federal government on Friday, agreeing to pay roughly $17 million to resolve allegations of illegal diversity, equity and inclusion practices. Acting Attorney Gen...