In it’s ever growing more obvious disregard for the middle class & even the rule of law itself, Congress last week voted to retroactively allow for pension benefits to be reduced in the future. While the media focused on the Torture Report (another blatant disregard for morality & the rule of law,) Congress overturned nearly 40 years of Pension law and opened the door for future reductions of retiree benefits once guaranteed by law.
From an article on Naked Capitalism:
Cromnibus Pension Provisions Gut Forty Years of Policy, Allow Existing Pensions to Be Slashed
Under the bill, trustees would be enabled to cut pension benefits to current retirees, reversing a 40-year bond with workers who earned their retirement packages.