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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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<blockquote data-quote="gman" data-source="post: 1863699" data-attributes="member: 757"><p>I started in 71 and went full in 77 and retired 2012. 41 years. My letter says my benefits will be cut from $2,699.06 to $1650.81. A cut of $1,048.19. That would have been 27 years in CS. But it goes on to say "because you are a member of the protected UPS Transfer Group, you should expierience no loss of benefits under our proposed pension rescue plan....because UPShas committed to making up the difference."</p><p>My wife is freaked out. She was set to retire next summer and now thinks she will have to stay. She does not believe UPS will hold up its 2 billion dollar commitment. Quite frankly, neither do I.</p><p>This really sucks. I may or may not be ok, and I knew it was coming but it's takes the wind out of my retirement plans.</p></blockquote><p></p>
[QUOTE="gman, post: 1863699, member: 757"] I started in 71 and went full in 77 and retired 2012. 41 years. My letter says my benefits will be cut from $2,699.06 to $1650.81. A cut of $1,048.19. That would have been 27 years in CS. But it goes on to say "because you are a member of the protected UPS Transfer Group, you should expierience no loss of benefits under our proposed pension rescue plan....because UPShas committed to making up the difference." My wife is freaked out. She was set to retire next summer and now thinks she will have to stay. She does not believe UPS will hold up its 2 billion dollar commitment. Quite frankly, neither do I. This really sucks. I may or may not be ok, and I knew it was coming but it's takes the wind out of my retirement plans. [/QUOTE]
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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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