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Brown Cafe UPS Forum
UPS Retirement Topics
REFORM PLAN FOR Central States Pension Plan
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<blockquote data-quote="bacha29" data-source="post: 1866258" data-attributes="member: 58386"><p>I'm Not A Robot hit on a key provision that allowed pension plans to cut benefits to stay afloat. If you guys remember back in 2008 during the Great Recession many large airlines filed for bankruptcy trashed their pension plans and dumped the mess onto the Pension Benefit Guaranty Corporation. As a result it's now badly underfunded and I believe that the possibility of it going under which as you guys know is the payer of the last resort is what compelled Congress to act to get the pressure off the PBGC. The general political consenus is that after imigration reform pension reform will be next on the domestic agenda . The question is who will be the one to have to pay up. Here's a hint. The problem with 401k's is that in too many cases the employer is not contributing anything.</p></blockquote><p></p>
[QUOTE="bacha29, post: 1866258, member: 58386"] I'm Not A Robot hit on a key provision that allowed pension plans to cut benefits to stay afloat. If you guys remember back in 2008 during the Great Recession many large airlines filed for bankruptcy trashed their pension plans and dumped the mess onto the Pension Benefit Guaranty Corporation. As a result it's now badly underfunded and I believe that the possibility of it going under which as you guys know is the payer of the last resort is what compelled Congress to act to get the pressure off the PBGC. The general political consenus is that after imigration reform pension reform will be next on the domestic agenda . The question is who will be the one to have to pay up. Here's a hint. The problem with 401k's is that in too many cases the employer is not contributing anything. [/QUOTE]
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