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I A M penison out of money
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<blockquote data-quote="Redtag" data-source="post: 4049069" data-attributes="member: 70933"><p>This is seriously misleading. Did you even read the packet? </p><p></p><p>Your using the example in the packet of a man starting at 20 years old and retiring at 50 with 30 years of service. Under the current plan it is possible for him to retire with no penalty at 50 but since the subsidy for that is cut by law for pensions in the red zone he would have a reduction for retiring early. In this case it would be 15 years early so quite a reduction. </p><p></p><p>How many IAM members fit in that category? Probably few. We are skilled workers and not many 20 year olds would be hired by UPS to wrench on things.</p><p></p><p>For those of us working until a reasonable retirement age like 60-62 the reduction in benefit would be much smaller.</p><p></p><p></p><p></p><p>Oh and please post the link to a credible news source stating that this drop is due to misusing funds for parties like you claimed earlier. You do realize this fund has billions in it so that would be one hell of a party to cause the rapid drop we are seeing in the last few years</p></blockquote><p></p>
[QUOTE="Redtag, post: 4049069, member: 70933"] This is seriously misleading. Did you even read the packet? Your using the example in the packet of a man starting at 20 years old and retiring at 50 with 30 years of service. Under the current plan it is possible for him to retire with no penalty at 50 but since the subsidy for that is cut by law for pensions in the red zone he would have a reduction for retiring early. In this case it would be 15 years early so quite a reduction. How many IAM members fit in that category? Probably few. We are skilled workers and not many 20 year olds would be hired by UPS to wrench on things. For those of us working until a reasonable retirement age like 60-62 the reduction in benefit would be much smaller. Oh and please post the link to a credible news source stating that this drop is due to misusing funds for parties like you claimed earlier. You do realize this fund has billions in it so that would be one hell of a party to cause the rapid drop we are seeing in the last few years [/QUOTE]
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