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UPS Discussions
IAM pension plan reduction
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<blockquote data-quote="brett636" data-source="post: 792219" data-attributes="member: 249"><p>While I cannot confirm what you say, I would not be surprised if I were you. Very few union pension funds are fully funded, with many having to endure exactly what you are going through. Its the result of a combination of poor planning and bad decision making which caused this very scenario. More people retiring with fewer people paying in along with benefits increased without any plan for how to pay for them will cause many of us covered by such plans to experience this same problem. I would say that if your not within 5 years or so of retiring plan on working longer than you originally thought you would.</p></blockquote><p></p>
[QUOTE="brett636, post: 792219, member: 249"] While I cannot confirm what you say, I would not be surprised if I were you. Very few union pension funds are fully funded, with many having to endure exactly what you are going through. Its the result of a combination of poor planning and bad decision making which caused this very scenario. More people retiring with fewer people paying in along with benefits increased without any plan for how to pay for them will cause many of us covered by such plans to experience this same problem. I would say that if your not within 5 years or so of retiring plan on working longer than you originally thought you would. [/QUOTE]
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