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Retired iron workers could face pension cuts next month

Larry Burruel is starting the new year with a grim reality: His monthly pension check could be cut in half at the end of the month.

Burruel, 68, is among the hundreds of retired iron workers who received the tough news a few weeks before the holidays. The cuts proposed by his pension plan, a small Cleveland-based fund with about 2,000 members, were approved by the Treasury Department on Dec. 16. It is the first time the agency has given the green light for a private pension plan to cut benefits for its members.

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