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Brown Cafe UPS Forum
UPS Retirement Topics
Raising the Union retirement age
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<blockquote data-quote="JonFrum" data-source="post: 990696" data-attributes="member: 18044"><p>The pension fund Trustees have full authority to raise the retirement age, or make any other needed rule changes, so long as they don't reduce your <u>currently</u> accrued benefits. No membership vote is required. Upstate's vote was because they were diverting Contract raises into the pension fund. The Contract requires that to be voted on.</p><p></p><p>When the pension rules are changed, you normally have a window period between their announcement and the day they take effect. You will also be grandfathered under the old rules for a while at least, maybe longer.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 990696, member: 18044"] The pension fund Trustees have full authority to raise the retirement age, or make any other needed rule changes, so long as they don't reduce your [U]currently[/U] accrued benefits. No membership vote is required. Upstate's vote was because they were diverting Contract raises into the pension fund. The Contract requires that to be voted on. When the pension rules are changed, you normally have a window period between their announcement and the day they take effect. You will also be grandfathered under the old rules for a while at least, maybe longer. [/QUOTE]
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Raising the Union retirement age
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