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Message: <blockquote data-quote="804brown" data-source="post: 913723" data-attributes="member: 29553">Local 804 Pension UpdateGood news for Local 804 members and your pension and retirement security. The assets of the Local 804 Pension Fund, as of Oct. 31, are up to $769.4 million dollars.That’s an increase of more than $43.3 million since the end of 2010. Despite the worst economy of our lives, the assets of our Pension Fund have grown by over $75 million since this Executive Board took office. This good news about your Local 804 pension runs counter to some false rumors that are being circulated. It’s time to set the record straight. A few members have spread the rumor that a recent letter sent out by the Pension Fund means that 25 & Out has been eliminated and that members have to be 55 years old in order to retire. Rest assured these rumors are completely false. Here are the facts.1) Your 25 & Out Benefits are In Effect and Secure. Local 804 members saved 25 & Out for ALL Local 804 members by voting to reject the last contract which was recommended by the former Executive Board. Your 25 & Out benefits are protected.2) There is No Change in Normal Retirement Age. Age 55 has been and remains the “Normal Retirement Age” in the Local 804 Pension Fund. Under the law, the Pension Fund was required to send out a notice to every participant that details your vested benefits and what you pension would be at “normal retirement age.” This letter does not reflect any change in your pension. You can retire with 25 years of pension credit at any age. Your 25 & Out benefits remain in effect. 3) The Pension Fund’s assets are up by over $75 million since this Executive Board took office. We are digging out of the hole that we inherited from the former trustees. We are on track to move the Fund out of the Red Zone over time.We will continue to issue regular Pension Fund updates and reports at every General Membership meeting. It’s your pension and you’re entitled to the facts—not false and divisive rumors.  <img src="http://e2ma.net/userdata/39955/images/e1323789443.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Local 804 Retirement SeminarMembers Chart Course for Retirement SecurityMembers packed Ricardo’s on Nov. 12 for a retirement seminar organized by Local 804. One hundred eighty members registered for the sold out event.The seminar covered essential information on retirement plans, including income strategies using pension and savings, Social Security Do’s & Don’ts, learning from others’ mistakes, and planning for the unthinkable. “The retirement seminar was great. It definitely encourages you to think about where you are financially and how to plan for our future,” said Alex Masciana, feeder steward from 43[SUP]rd[/SUP] Street. Local 804 is scheduling the next retirement seminar. Keep your eye on union bulletin boards and the website so you can register. </blockquote>

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