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APWA ???
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<blockquote data-quote="Just Lurking" data-source="post: 96726" data-attributes="member: 5304"><p>APWA came to our area and gave their presentation. Here are some questions that have not been answered for me in over a year.</p><p></p><p>IF you take the contribution rates for the past 30 years and 10 percent return, you do not get $840,000 balance thus no 10 percent pull down ($7000/month or $84000/yr) with 10 percent return equalling no loss balance. This is their plan for the pension.</p><p></p><p>1. What is the balance taking historical contribution rates and average market return? It's no where near $840000.</p><p>2. How are they going to gaurantee 10 percent return? Their answer is that they will transfer funds from one financial company to another if they don'y make a 10 percent return. Also, they are going to handle all pension funds for a 1/2 percent fee. With a limited fixed number of financial companies that can handle this amount of pension funds. How is this possible?</p><p>3. Health insurance was no contributions, $10 co-pays and see any doctor or specialist at any office or hospital with $100 individual /$200 family deductible. Prescriptions for $5 and generic free. I think everyone will laugh at any possible answer of how this would work.</p><p></p><p>Please, give their standard answer that its possible because only UPS people would be covered.</p><p></p><p>I forgot that they didn't have a plan for part-timers but were working on it.</p></blockquote><p></p>
[QUOTE="Just Lurking, post: 96726, member: 5304"] APWA came to our area and gave their presentation. Here are some questions that have not been answered for me in over a year. IF you take the contribution rates for the past 30 years and 10 percent return, you do not get $840,000 balance thus no 10 percent pull down ($7000/month or $84000/yr) with 10 percent return equalling no loss balance. This is their plan for the pension. 1. What is the balance taking historical contribution rates and average market return? It's no where near $840000. 2. How are they going to gaurantee 10 percent return? Their answer is that they will transfer funds from one financial company to another if they don'y make a 10 percent return. Also, they are going to handle all pension funds for a 1/2 percent fee. With a limited fixed number of financial companies that can handle this amount of pension funds. How is this possible? 3. Health insurance was no contributions, $10 co-pays and see any doctor or specialist at any office or hospital with $100 individual /$200 family deductible. Prescriptions for $5 and generic free. I think everyone will laugh at any possible answer of how this would work. Please, give their standard answer that its possible because only UPS people would be covered. I forgot that they didn't have a plan for part-timers but were working on it. [/QUOTE]
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