Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Central States Pension Reduction Plan Letter announces Cuts - October 2015
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Inthegame" data-source="post: 1863855" data-attributes="member: 37112"><p>Not quite. In order to apply the Kline-Miller cuts, a plan must be in critical or endangered status with a funding insolvency in their future.</p><p>There are more than 10 million participants in multiemployer pension plans. According to the PBGC, about 10 percent of participants are in plans that are projected to run out of money, which is a requirement for any cuts to be enacted. In many of these plans, there are other tools available to improve their financial condition, such as eliminating service pensions or increasing retirement age eligibility. By law, plan trustees are required to take all reasonable measures to address their financial problems before submitting an application to reduce benefits.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1863855, member: 37112"] Not quite. In order to apply the Kline-Miller cuts, a plan must be in critical or endangered status with a funding insolvency in their future. There are more than 10 million participants in multiemployer pension plans. According to the PBGC, about 10 percent of participants are in plans that are projected to run out of money, which is a requirement for any cuts to be enacted. In many of these plans, there are other tools available to improve their financial condition, such as eliminating service pensions or increasing retirement age eligibility. By law, plan trustees are required to take all reasonable measures to address their financial problems before submitting an application to reduce benefits. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Central States Pension Reduction Plan Letter announces Cuts - October 2015
Top