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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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<blockquote data-quote="Inthegame" data-source="post: 1863930" data-attributes="member: 37112"><p>The $40 per year increases aren't "pension monies" but negotiated benefit increases to be allocated between H&W/Pension plans, with $20/$20 split designations the first three years. (Some very successful green zone Pension plans have had trustee discretion over splits for years). Even if the split goes 20/20, 30/10 or 40/0 in years 4 and 5, the first three years of 20/20 puts an additional $60 per employee per week into Pension, well over $400 per week in many plans. That's not chicken feed.</p><p>Unless all these <u>30,000 eligible to retire</u> (and many are in UPS's single employer plan) are in struggling multi-employer plans, not much bleeding will be taking place. </p><p>My response was to a specific post warning of widespread doom. Reread my initial post. The PBGC states 9 out of 10 multi-employer plan participants will not be subjected to benefit reductions. Hardly the same fate of Ponzi scheme dupes.</p></blockquote><p></p>
[QUOTE="Inthegame, post: 1863930, member: 37112"] The $40 per year increases aren't "pension monies" but negotiated benefit increases to be allocated between H&W/Pension plans, with $20/$20 split designations the first three years. (Some very successful green zone Pension plans have had trustee discretion over splits for years). Even if the split goes 20/20, 30/10 or 40/0 in years 4 and 5, the first three years of 20/20 puts an additional $60 per employee per week into Pension, well over $400 per week in many plans. That's not chicken feed. Unless all these [U]30,000 eligible to retire[/U] (and many are in UPS's single employer plan) are in struggling multi-employer plans, not much bleeding will be taking place. My response was to a specific post warning of widespread doom. Reread my initial post. The PBGC states 9 out of 10 multi-employer plan participants will not be subjected to benefit reductions. Hardly the same fate of Ponzi scheme dupes. [/QUOTE]
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Central States Pension Reduction Plan Letter announces Cuts - October 2015
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