Legislation sponsored by Rep, John Kline (R-Minn.) and Rep. George Miller (D-Calif.)-the "Kline/Miller" bill-was included in the omnibus appropriations bill that would allow multiemployer pension plans that are facing financial difficulties to take steps to reduce liabilities and increase assets in an effort to keep them from failing. These steps could include cuts of pension benefits paid to current beneficiaries, a concept which goes against 40 years of pension law. Multiemployer plans could cut benefits to as low as 110 percent of that which would be paid by the Pension Benefit Guaranty Corporation if the plan failed entirely.
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