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UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="bacha29" data-source="post: 1865630" data-attributes="member: 58386"><p>Badly underfunded npension plans are a national crisis and is growing every day. It is why the Commonwealth of Pennsylvania still has not passed a budget despite now more than 3 months passed the deadline. The annual state budget is about 31 billion but the pension plan is 50 billion underfunded. The Republicans want to go over to a defined contribution plan while the Democrats want to retain the current defined benefit plan pointing to the fact that state employees paid in their required amounts through payroll deductions but the state failed to pay in it's share. This matter and the CSP are the opening salvos in a long national battle over what to do and who's going to come away the worst for it.</p></blockquote><p></p>
[QUOTE="bacha29, post: 1865630, member: 58386"] Badly underfunded npension plans are a national crisis and is growing every day. It is why the Commonwealth of Pennsylvania still has not passed a budget despite now more than 3 months passed the deadline. The annual state budget is about 31 billion but the pension plan is 50 billion underfunded. The Republicans want to go over to a defined contribution plan while the Democrats want to retain the current defined benefit plan pointing to the fact that state employees paid in their required amounts through payroll deductions but the state failed to pay in it's share. This matter and the CSP are the opening salvos in a long national battle over what to do and who's going to come away the worst for it. [/QUOTE]
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REFORM PLAN FOR Central States Pension Plan
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