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There are two components to this pension:

* What has already been earned;

* Assumptions about what will be earned in the future.

Employers can and do change the latter. They can NOT change the former. Any pension benefits already earned based on prior service can NOT be cut. If the employer is cutting benefits based on service already accrued, that is a violation of federal law.

If the change in pension is based only on changes in future assumptions, the employer is probably within their legal rights to make the change.

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