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UPS Discussions
IAM pension plan reduction
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<blockquote data-quote="dragracer66" data-source="post: 792605" data-attributes="member: 5175"><p>Yes...Its true I got my letter today. It won't hurt so much for those of us with 20 plus years but the new hires down to 03 its going to hurt. Its not just us its all of the companys in our union. They want to get the pension back to 115% funded. But anything we have earned up to 01/01/14 won't change. We just won't get as much in our contribution monthly as we do now. I quess with the economy and not enough retirees dropping dead its starting to drain the plan!</p></blockquote><p></p>
[QUOTE="dragracer66, post: 792605, member: 5175"] Yes...Its true I got my letter today. It won't hurt so much for those of us with 20 plus years but the new hires down to 03 its going to hurt. Its not just us its all of the companys in our union. They want to get the pension back to 115% funded. But anything we have earned up to 01/01/14 won't change. We just won't get as much in our contribution monthly as we do now. I quess with the economy and not enough retirees dropping dead its starting to drain the plan! [/QUOTE]
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