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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: 54315"><p>From the looks of it, this bill attempts to spread the pain to all parties concerned. If a plan is in reorganization mode, the employer is required to pay either a 5% or 10% surcharge on top of the negotiated rate in the CBA. The 5% comes in the first year after the plan goes into reorganization and the 10% rate is for the second and subsequent years until the expiration of the current CBA. Couple this with potential benefit reductions and generally speaking, this should raise the funding ratio over time to an acceptable level. Overall, H.R. 2830 looks like a strong dose of castor oil for all parties concerned in red zone plans.</p></blockquote><p></p>
[QUOTE="my2cents, post: 54315"] From the looks of it, this bill attempts to spread the pain to all parties concerned. If a plan is in reorganization mode, the employer is required to pay either a 5% or 10% surcharge on top of the negotiated rate in the CBA. The 5% comes in the first year after the plan goes into reorganization and the 10% rate is for the second and subsequent years until the expiration of the current CBA. Couple this with potential benefit reductions and generally speaking, this should raise the funding ratio over time to an acceptable level. Overall, H.R. 2830 looks like a strong dose of castor oil for all parties concerned in red zone plans. [/QUOTE]
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