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Brown Cafe UPS Forum
UPS Retirement Topics
Pension Protection Act
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<blockquote data-quote="my2cents" data-source="post: 54311"><p>Any benefit reductions will still follow the anti-cutback rules, although its unclear to me how this process will work. Benefit reductions appear to be in the form of freezing benefit accrurals and the restrictions on lump sum payments when a plan is under 80% funded. </p><p> </p><p>Additionally, it will be an unlawful practice during the collective bargaining negotiations, to promise increases in benefits, when in reality the money to pay for the benefits, doesn't exist in an underfunded plan. This has the effect of misleading workers and digging a deeper hole for the plan to get out of.</p></blockquote><p></p>
[QUOTE="my2cents, post: 54311"] Any benefit reductions will still follow the anti-cutback rules, although its unclear to me how this process will work. Benefit reductions appear to be in the form of freezing benefit accrurals and the restrictions on lump sum payments when a plan is under 80% funded. Additionally, it will be an unlawful practice during the collective bargaining negotiations, to promise increases in benefits, when in reality the money to pay for the benefits, doesn't exist in an underfunded plan. This has the effect of misleading workers and digging a deeper hole for the plan to get out of. [/QUOTE]
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