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UPS Retirement Topics
Pensions...We all saw this coming.
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<blockquote data-quote="oldngray" data-source="post: 1470302" data-attributes="member: 45230"><p>Congress is set to vote on a $1.1 trillion spending bill this week, one with a troubling provision for U.S. retirees. If the bill passes, the promised retirement benefits of millions of workers could be slashed. The knee-jerk reaction: Fear that it could set a dangerous precedent and lead to more widespread cuts in retiree pension benefits. Is that realistic? Here's what it really boils down to.</p><p></p><p>Is my pension going away?</p><p></p><p>Maybe not right now. But a provision in a $1.1 trillion spending bill that Congress may pass this week could set a scary precedent. It would allow the promised pension benefits of up to 1.5 million workers and retirees to be cut. It would affect the pooled pension plans -- called multiemployer plans -- of mostly union workers across a bunch of companies, where it looks like the plans won't be able to cover full benefits in coming decades.</p></blockquote><p></p>
[QUOTE="oldngray, post: 1470302, member: 45230"] Congress is set to vote on a $1.1 trillion spending bill this week, one with a troubling provision for U.S. retirees. If the bill passes, the promised retirement benefits of millions of workers could be slashed. The knee-jerk reaction: Fear that it could set a dangerous precedent and lead to more widespread cuts in retiree pension benefits. Is that realistic? Here's what it really boils down to. Is my pension going away? Maybe not right now. But a provision in a $1.1 trillion spending bill that Congress may pass this week could set a scary precedent. It would allow the promised pension benefits of up to 1.5 million workers and retirees to be cut. It would affect the pooled pension plans -- called multiemployer plans -- of mostly union workers across a bunch of companies, where it looks like the plans won't be able to cover full benefits in coming decades. [/QUOTE]
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Pensions...We all saw this coming.
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