Pension cuts barreling down the road? - The Gazette
Michael Barton drove a truck for three decades for United Parcel Service. But as of July 1, despite all those years on the job, he faces the possibility of a 50 percent cut in his pension checks.
“It’s really going to change our lifestyle,” said Barton, 67, of Cedar Rapids. “It will knock my monthly check down from $3,000 to $1,500.
“I’m in the physical condition that I am because of the job that I had. And now, what I thought I was going to get in retirement is not going to be there.”
Michael Barton drove a truck for three decades for United Parcel Service. But as of July 1, despite all those years on the job, he faces the possibility of a 50 percent cut in his pension checks.
“It’s really going to change our lifestyle,” said Barton, 67, of Cedar Rapids. “It will knock my monthly check down from $3,000 to $1,500.
“I’m in the physical condition that I am because of the job that I had. And now, what I thought I was going to get in retirement is not going to be there.”