About One Million Americans Have Pensions on Verge of Insolvency
New York Daily News

Ten private-sector union pension funds have applied to the U.S. Treasury Dept. for the green light to slash retiree payouts, the Pension Rights Center says Among them are labor organizations affiliated with the auto industry, several from the trucking industry and others from the iron workers and bricklayer unions. Sixty-eight plans are listed as having “critical and declining status,” meaning they too will soon have to apply for permission to cut retiree payouts.
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