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What really happened to your Pension?... (Long Post)
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<blockquote data-quote="59 Dano" data-source="post: 1013722" data-attributes="member: 23516"><p>With the freeze in place, he will earn $1723.17 a month plus his disbursement from his portable pension plan, which he can elect to take in a lump sum or as a monthly annuity payment for the rest of his life. Based on his time in service, the company will contribute up to 13% of his yearly W-2 earnings to his PPA account for another year or so at which the rate will drop down to either 8% or 5%. </p><p></p><p>I appreciate the tearful story, but I have to question the validity of it. I've seen the most recent statements sent out by the Retirement Service Center of 2 25 year couriers. Their monthly payment from the traditional pension plan is quite a bit more than the figure you've given, and that's in a B market. Both currently get an amount equal to 13% of their gross wages placed in their PPA accounts.</p></blockquote><p></p>
[QUOTE="59 Dano, post: 1013722, member: 23516"] With the freeze in place, he will earn $1723.17 a month plus his disbursement from his portable pension plan, which he can elect to take in a lump sum or as a monthly annuity payment for the rest of his life. Based on his time in service, the company will contribute up to 13% of his yearly W-2 earnings to his PPA account for another year or so at which the rate will drop down to either 8% or 5%. I appreciate the tearful story, but I have to question the validity of it. I've seen the most recent statements sent out by the Retirement Service Center of 2 25 year couriers. Their monthly payment from the traditional pension plan is quite a bit more than the figure you've given, and that's in a B market. Both currently get an amount equal to 13% of their gross wages placed in their PPA accounts. [/QUOTE]
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