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Brown Cafe UPS Forum
UPS Retirement Topics
Whats your Union pension
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<blockquote data-quote="oldngray" data-source="post: 1353606" data-attributes="member: 45230"><p><span style="font-size: 22px"><strong>U.S. Pension Insurer Issues Dire Warning on Pooled Plans</strong></span></p><p></p><p>The multiemployer insurance program works differently from the single-employer one, and the report expressed concern that the people at greatest risk were unaware of how much their pensions could be cut if the situation deteriorated. The maximum insurance benefit is less than $13,000 a year, and that is only for people who have at least 30 years of service. In some plans, notably the famous Teamsters’ Central States plan, many workers and retirees have already earned pensions well above the insurance maximum.</p><p></p><p><a href="http://dealbook.nytimes.com/2014/06/30/u-s-pension-insurer-issues-dire-warning-on-pooled-plans/?partner=yahoofinance" target="_blank">http://dealbook.nytimes.com/2014/06/30/u-s-pension-insurer-issues-dire-warning-on-pooled-plans/?partner=yahoofinance</a></p></blockquote><p></p>
[QUOTE="oldngray, post: 1353606, member: 45230"] [SIZE=6][B]U.S. Pension Insurer Issues Dire Warning on Pooled Plans[/B][/SIZE] The multiemployer insurance program works differently from the single-employer one, and the report expressed concern that the people at greatest risk were unaware of how much their pensions could be cut if the situation deteriorated. The maximum insurance benefit is less than $13,000 a year, and that is only for people who have at least 30 years of service. In some plans, notably the famous Teamsters’ Central States plan, many workers and retirees have already earned pensions well above the insurance maximum. [url]http://dealbook.nytimes.com/2014/06/30/u-s-pension-insurer-issues-dire-warning-on-pooled-plans/?partner=yahoofinance[/url] [/QUOTE]
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