Pension funded roll call? What is your pension funded percentage % 2022/2023
- Thread starter Over70irregs
- Start date
Thebrownblob
Well-Known Member
When has that. Happened?
UnionStrong
Sorry, but I don’t care anymore.
Never
UpstateNYUPSer(Ret)
Well-Known Member
The crucial line in the bottom letter: Projected Funded Percentage IF SFA was included.
One of the rules of the bailout was that SFA funds were to be segregated and invested according to a strict set of rules established by the PBGC. Pension funds that received the bailout will still be sending out the "we are broke" letters on an annual basis, even though they (and their members) have been made whole. As you can imagine, there will be a great deal of oversight for those funds that received the assistance.
NYST received a combined $1.3B in SFA funds when their initial and supplemental applications were approved. The 18% and 29% cuts were restored and the members received back pay from the date of the cuts (10/1/2017). There were UPSers who received six figure lump sum payments.
The only downside to this bailout was that the member had to be alive on the date that their pension fund received their money; if they had passed, their widow(er) had their pension restored but were not eligible to receive the back pay.
Over70irregs
Well-Known Member
No such thing as welfare that is just another tab on computerized screen. Just a dead scab to pick at and focus on.
Wally
BrownCafe Innovator & King of Puns
Definitely welfare only for a select few.
Those dependant on 401k's lost plenty, receive nothing.
The average 401(k) balance by age
Key points A 401(k) is a retirement savings plan that may come with an employer match. Your age and job tenure may affect how much you save for retirement. There are steps you can take to get back on track with your retirement savings. Saving for retirement is a marathon. And the earli
www.usatoday.com
Thebrownblob
Well-Known Member
How does that affect people with 401(k)? Did you have a problem in 2008 when Obama, bailed huge corporation and banks? Did you realize many of the decisions of previous administration and government regulations cause most of this problem, so why wouldn’t they fix it since they broke it? I can guarantee you if they had not fix it would’ve caused economic pain like you’ve never seen for the entire country.
Over70irregs
Well-Known Member
Yeah 401k are at least something but not enough. Lose value then inflation eats you while going back up.
Over70irregs
Well-Known Member
“401k generation enters minefield”
Wally
BrownCafe Innovator & King of Puns
Bail out one pension you should bail them all out, no? Why just favor the unions?
UnionStrong
Sorry, but I don’t care anymore.
Thebrownblob
Well-Known Member
I’m not in favor of any of it. But the fact remains they are the ones that broke it with the deregulation. I don’t consider it a Bail out I consider it repayment. And it was a pittance compared to the banks and giant corporations.
DELACROIX
In the Spirit of Honore' Daumier
You're talking about the WCTPT of course?
542thruNthru
Well-Known Member
Just A UPS Guy
Bully.
UpstateNYUPSer(Ret)
Well-Known Member
Yeah, it don't work that way, especially for those of us covered by a Teamster MEPP.
The bailout, which was a product of the ARPA and which I personally benefitted from, was implemented to "rescue" those MEPP's that were either insolvent or declining. It was most definitely a form of government welfare.
DELACROIX
In the Spirit of Honore' Daumier
The UPS Pension Plan is for mostly part timers. The UPS Retirement Plan is for our management people, with a few exceptions.
Dated year ending 2018 for both..
Notice anything different about the UPS Pension Plan in 2017..?
Dated year ending 2018 for both..
Notice anything different about the UPS Pension Plan in 2017..?
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