The U.S. Treasury Doesn’t Care About Your Retirement – The Atlantic

U.S. Treasury Secretary Mnuchin speaks to Capitol Hill reporters in Washington

“Recently, the U.S. Treasury said that it is perfectly okay for companies to swindle employees out of their pensions by offering one-time payments worth less than the pensions that those employees are giving up. The Department of Labor, nominally responsible for protecting workers in retirement plans, said nothing. This isn’t the first time the government stood by as American businesses shifted risks onto their employees and retirees. Treasury and Labor, whose decisions shape the retirements of millions of people, have for years been letting companies offer a one-time payment instead of the lifetime pension they committed to.”

via The U.S. Treasury Doesn’t Care About Your Retirement – The Atlantic

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