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Teamsters pension cut
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 2680117" data-attributes="member: 12570"><p>We will find out on April 12th whether the Treasury accepts our proposed cuts or not. Word is they will not and the cuts will not be made on July 31st as planned. This would be a shame as, without a company buyout or an infusion of a large amount of money, out fund will continue to lose money.</p><p></p><p>Our BA did mention that our Fund is looking in to the possibility of a 1% interest $1B government loan with a 10 year grace period. It is expected that our Fund would have recovered to the point where we could pay our benefits, repay the fund and continue to grow our balance.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 2680117, member: 12570"] We will find out on April 12th whether the Treasury accepts our proposed cuts or not. Word is they will not and the cuts will not be made on July 31st as planned. This would be a shame as, without a company buyout or an infusion of a large amount of money, out fund will continue to lose money. Our BA did mention that our Fund is looking in to the possibility of a 1% interest $1B government loan with a 10 year grace period. It is expected that our Fund would have recovered to the point where we could pay our benefits, repay the fund and continue to grow our balance. [/QUOTE]
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