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GOP seeks to ease regulations on spending bill
Source: Associated Press
GOP seeks to ease regulations on spending bill
AP foreign, Tuesday December 9 2014
By DAVID ESPO and ANDREW TAYLOR
Associated Press= WASHINGTON (AP) — Key lawmakers weighed legislation to permit a reduction of benefits for up to 1 million retirees at economically distressed multiemployer pension plans, officials said late Monday as Congress labored over a $1.1 trillion measure to keep the government operating past midnight Thursday.
The officials said the goal of the secretive pension talks was to avert bankruptcies at troubled plans that could in turn endanger the stability of the federal Pension Benefit Guaranty Corp.
Few details of the proposed changes under discussion were available. Republicans and Democrats on the House Education and Workforce Committee issued a statement that said lawmakers "are still discussing the details about a possible legislative solution to the multiemployer pension crisis and remain hopeful Congress will act before the end of the year."
Proposed changes have the support of many of the multiemployer pension plans in financial difficulty, but has drawn opposition from other, healthier entities.
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AP foreign, Tuesday December 9 2014
By DAVID ESPO and ANDREW TAYLOR
Associated Press= WASHINGTON (AP) — Key lawmakers weighed legislation to permit a reduction of benefits for up to 1 million retirees at economically distressed multiemployer pension plans, officials said late Monday as Congress labored over a $1.1 trillion measure to keep the government operating past midnight Thursday.
The officials said the goal of the secretive pension talks was to avert bankruptcies at troubled plans that could in turn endanger the stability of the federal Pension Benefit Guaranty Corp.
Few details of the proposed changes under discussion were available. Republicans and Democrats on the House Education and Workforce Committee issued a statement that said lawmakers "are still discussing the details about a possible legislative solution to the multiemployer pension crisis and remain hopeful Congress will act before the end of the year."
Proposed changes have the support of many of the multiemployer pension plans in financial difficulty, but has drawn opposition from other, healthier entities.
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Read more: http://www.theguardian.com/world/feedarticle/11679302
