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Pension Cuts Blocked
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<blockquote data-quote="35years" data-source="post: 2180113" data-attributes="member: 60822"><p>If I read it correctly, the PBGC site states a maximum benefit of $12,870 per year.</p><p>That is for a 30 year pension.</p><p>A 20 year pension; PBGC's maximum guarantee cannot exceed $8,580 per year.</p><p>So a 25 year pension max benefit would be somewhere in between, assuming the retiree retired at normal retirement age.</p><p></p><p>Those $5,000+ a month pensions that are underfunded may only yield you $12,870 a year...or less, if you retired before normal retirement age or with less than 30 years in.</p><p></p><p></p><p></p><p><a href="http://www.pbgc.gov/about/factsheets/page/multi-facts.html" target="_blank">Multiemployer Insurance Program Facts</a></p></blockquote><p></p>
[QUOTE="35years, post: 2180113, member: 60822"] If I read it correctly, the PBGC site states a maximum benefit of $12,870 per year. That is for a 30 year pension. A 20 year pension; PBGC's maximum guarantee cannot exceed $8,580 per year. So a 25 year pension max benefit would be somewhere in between, assuming the retiree retired at normal retirement age. Those $5,000+ a month pensions that are underfunded may only yield you $12,870 a year...or less, if you retired before normal retirement age or with less than 30 years in. [URL='http://www.pbgc.gov/about/factsheets/page/multi-facts.html']Multiemployer Insurance Program Facts[/URL] [/QUOTE]
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