Western Pa Pension cuts

Discussion in 'UPS Retirement Topics' started by gumbybros, Dec 18, 2008.

  1. gumbybros

    gumbybros New Member

    A retired employee told me he was told that in March 2009 the Western Pa pension fund has become so underfunded that it is going to mandate huge cuts in pensions for all future retirees. For example a 30 year driver that would have earned $3800 a month would be cut to $2000. Anybody out there from this area that knows anything about this? Sounds really drastic, but the stock market has been sucking wind.
  2. 30brown

    30brown New Member

    Do not panic yet. I called the pension fund office 1-9-09 and was told that even though the funding level has dropped to a critical level there will be no changes this year.(2009) This was important to me because I plan on doing 30 and out this August. Keep checking because the secretary told me if it continues like this until next year, some changes in future retirements will have to be made.:anxious:
  3. Hangingon

    Hangingon New Member

    If you're trying to get into feeders, might want to pass this info to a feeder driver. I'll bet all those 30+ drivers will turn in their papers fast.