multiemployer defined benefit pension plans

Pension plans that cut retiree benefits to restore solvency would face the toughest dilemma under the pension rescue rules announced July 9.

The Butch-Lewis Act would lend money to pension plans to give them a chance to recover.

The Joint Select Committee on Solvency of Multiemployer Pension Plans was supposed to vote on a solution to the looming crisis in union-sponsored pensions by the end of November.