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Brown Cafe UPS Forum
UPS Union Issues
Pension extension?
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<blockquote data-quote="Inthegame" data-source="post: 1217301" data-attributes="member: 37112"><p>If your friend was referring to the financial health of pension funds, he's dead on. Service pensions (25 and out's etc.) are draining funds prematurely in every case. Mature Pension funds were designed years ago with a target of a 65 year old retirement date. Political decisions have lowered that date for participants in many cases to levels that put extreme pressure on fund investments to make up the shortfalls. </p><p>Accrual based benefits (contributory years) are much easier (and more predictable) for funds to sustain, and follows the SS model. If more funds move in the direction of increased accrual rather than the early outs, pensions will survive, but our "leaders" somehow need to explain that to broken down members who want out at 50. That's the political challenge few want to face so down the road goes the can...</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1217301, member: 37112"] If your friend was referring to the financial health of pension funds, he's dead on. Service pensions (25 and out's etc.) are draining funds prematurely in every case. Mature Pension funds were designed years ago with a target of a 65 year old retirement date. Political decisions have lowered that date for participants in many cases to levels that put extreme pressure on fund investments to make up the shortfalls. Accrual based benefits (contributory years) are much easier (and more predictable) for funds to sustain, and follows the SS model. If more funds move in the direction of increased accrual rather than the early outs, pensions will survive, but our "leaders" somehow need to explain that to broken down members who want out at 50. That's the political challenge few want to face so down the road goes the can... [/QUOTE]
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