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Brown Cafe UPS Forum
UPS Retirement Topics
Dreaded Pension Funding Level Letter
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 731279" data-attributes="member: 12570"><p>We will be receiving a list of options from the fund to vote on as they work to restore the health of the plan. Early retirement is no longer an option. They are talking about setting a minimum retirement age (55?) and reducing their contributions to our pension balances, relying solely on contributions from the company. From what I have heard the figure that we were quoted in their most recent mailing will be pretty close to what we can expect to receive at retirement. Mine was just over $50K annually.</p><p></p><p>Goose made an excellent point--we have retirees making more in retirement than they were while they were working. How many pensions can survive with that kind of payout?</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 731279, member: 12570"] We will be receiving a list of options from the fund to vote on as they work to restore the health of the plan. Early retirement is no longer an option. They are talking about setting a minimum retirement age (55?) and reducing their contributions to our pension balances, relying solely on contributions from the company. From what I have heard the figure that we were quoted in their most recent mailing will be pretty close to what we can expect to receive at retirement. Mine was just over $50K annually. Goose made an excellent point--we have retirees making more in retirement than they were while they were working. How many pensions can survive with that kind of payout? [/QUOTE]
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Dreaded Pension Funding Level Letter
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