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Brown Cafe UPS Forum
UPS Retirement Topics
Beef up union pension plans ??
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 756504" data-attributes="member: 12570"><p>We had out meeting last week on proposed changes to our pension plan. During the meeting one of the plan administrators told us about a piece of legislation being written by Sen. Casey (he didn't mention which state he was from) that would help multi-employer pension plans deal with the loss of one of the participating employers. Our plan has YRCW and this would definitely hurt us if they were to go under. Anyway, this legislation would partition the employees and retirees of the failed business and the government would then take over their pension, thereby not affecting the remaining participants in the pension plan. The current govt guarantee on a pension is $12,800 per year.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 756504, member: 12570"] We had out meeting last week on proposed changes to our pension plan. During the meeting one of the plan administrators told us about a piece of legislation being written by Sen. Casey (he didn't mention which state he was from) that would help multi-employer pension plans deal with the loss of one of the participating employers. Our plan has YRCW and this would definitely hurt us if they were to go under. Anyway, this legislation would partition the employees and retirees of the failed business and the government would then take over their pension, thereby not affecting the remaining participants in the pension plan. The current govt guarantee on a pension is $12,800 per year. [/QUOTE]
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Beef up union pension plans ??
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