15% PENSION CUT COMING SOON

BrownMonk

Old fart Package Car Driver
If you call 70% funded well.

First, it is over 70%. Second,70% means that if the Fund stopped taking contributions today, that they would make it over 50 years for everyone entitled to money today. You just aren't looking at the big picture. If you move into the green, there is no withdraw liability to all the other companies. In otherwords, the white paper contracts would bail out of the fund and talk their guys into a 401K. Those future funds would not be there everyone else in the future.

If you're talking NY, they announced that they aren't going forward with any cuts(15%) because of some concerns from the Treasury Dept.
 

retired2000

Well-Known Member
Wrong ny withdrew the proposal from the treasury dept to tweak it. They will send it back again. Cuts are said to be in oct of this year. Do not know what percent they are looking at now
 

Coldworld

60 months and counting
Normally I would but he is about to lose 31% of his monthly pension so it would be like pouring salt in the wound.
What is the reason you were given for not having more hours go into the pension??? Is it ups who doesn't want to do it or does it come down to the union???? 1000 hours has to be one of the lowest in the country...,
 
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