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UPS Retirement Topics
Pension Protection Act
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<blockquote data-quote="my2cents" data-source="post: 54313"><p>Basically, as far as I can tell, these reorganization measures, for the most part, keep a plan from going bankrupt and maintain some form of long term viability. Keeping the plan solvent beats receiving your retirement check from the PBGC. </p><p> </p><p>Workers will also be better informed with the new disclosure requirements. As it stands now, most have no clue about the health of their plan. If they get a heads up on a poorly funded plan, they can take advantage of the investment advisor benefit, who will probably tell them to increase their payroll deductions into one's 401(k) account. </p><p> </p><p>In regards to the health care issue, it is not addressed in this bill. I wouldn't be surprised if that subject turns into the next big hearing, especially if a company like GM veers in Chapter 11.</p></blockquote><p></p>
[QUOTE="my2cents, post: 54313"] Basically, as far as I can tell, these reorganization measures, for the most part, keep a plan from going bankrupt and maintain some form of long term viability. Keeping the plan solvent beats receiving your retirement check from the PBGC. Workers will also be better informed with the new disclosure requirements. As it stands now, most have no clue about the health of their plan. If they get a heads up on a poorly funded plan, they can take advantage of the investment advisor benefit, who will probably tell them to increase their payroll deductions into one's 401(k) account. In regards to the health care issue, it is not addressed in this bill. I wouldn't be surprised if that subject turns into the next big hearing, especially if a company like GM veers in Chapter 11. [/QUOTE]
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