Western PA Pension fund

Jones

fILE A GRIEVE!
Staff member
Not surprised. About 4 years ago someone showed me a funding statement for that pension and it was only 35% funded or something like that.
 

bowhnterdon

Well-Known Member
What a bitter pill to swallow. Ups/Ibt plan gets a decent increase, and other plans cutting 30%. Same Company-Same Union. I walked in ‘97 with a sign, Leave my Pension Alone!!! Boy, I wish could have seen the light...
 

stray

Well-Known Member
I'm in that fund. Last I heard, I believe we were funded at 58%. Our pension board filed a proposal to cut retiree benefits by 30% last year and I've heard some retirees have received notice that the cut is coming soon.
 

Indecisi0n

Well-Known Member
Me too, but let's say you have been saving up for retirement. You have enough money saved up so that when you retire at age 65 you can live for the next 20 or so years.

But say the government decides to nationalize your social security, your pension, all that stuff.

And so they take YOUR money that you worked all your life for and they pay back their debts with this money.

You are left broke and unable to support yourself.

That's a pretty bad deal.
I like a challenge .
 

browndevil

Well-Known Member
Me too, but let's say you have been saving up for retirement. You have enough money saved up so that when you retire at age 65 you can live for the next 20 or so years.

But say the government decides to nationalize your social security, your pension, all that stuff.

And so they take YOUR money that you worked all your life for and they pay back their debts with this money.

You are left broke and unable to support yourself.

That's a pretty bad deal.
First of the govt can't nationalize a private pension. That would be illegal. The West is 92% funded. Thanks to great leadership Rome A and Chuck M
 

542thruNthru

Well-Known Member
First of the govt can't nationalize a private pension. That would be illegal. The West is 92% funded. Thanks to great leadership Rome A and Chuck M
There is a threat to our pensions though. I hate to post this link (because people distrust TDU) but it's the first to show up on google. Also my local has been talking about it the last couple general membership meetings.

“GROW” Act: A Threat to Workers’ Pensions

We need to make sure this doesn't happen.
 

burrheadd

KING Of GIFS
Me too, but let's say you have been saving up for retirement. You have enough money saved up so that when you retire at age 65 you can live for the next 20 or so years.

But say the government decides to nationalize your social security, your pension, all that stuff.

And so they take YOUR money that you worked all your life for and they pay back their debts with this money.

You are left broke and unable to support yourself.

That's a pretty bad deal.
Where do I sign up?
 

BrownMonk

Old fart Package Car Driver
There is a threat to our pensions though. I hate to post this link (because people distrust TDU) but it's the first to show up on google. Also my local has been talking about it the last couple general membership meetings.

“GROW” Act: A Threat to Workers’ Pensions

We need to make sure this doesn't happen.
The Rep. that started the Grow Act(Rep. Neal) has started supporting the Butch Lewis Act(he is a sponser) so I'm guessing he dropped his support of the Grow Act. Either that or the Grow Act is a backup plan if Butch Lewis doesn't get support.
 
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