What's new

What Is The Pension Provision In The Stimulus Package? An Explainer

Freightmaster1 said:
www.forbes.com

What Is The Pension Provision In The Stimulus Package? An Explainer

These plans are part of a big system of about 1500 multiemployer pensions plans covering about 10 million workers.
www.forbes.com www.forbes.com


960x0.md.jpg


:hyper:
Click to expand...
Very good article that explains a lot of how MEPF'S got into financial trouble, some of the government regulations that put MEPF'S in this position, how the government bailed out big businesses, and funded insurance companies the government thought needed help.
 
If I understand everything correctly this only benefits current retirees and unless something is changed pensions will be in trouble ago, am i correct?
 
KoolRay said:
Will get some sort of snap back for benefit reduction since 2008?
Click to expand...
Ask the Pension or your Local,, because its not as simple as described.

I haven't read the actual Law, but I believe this is how it was explained to me? IF the cuts came thru the Treasury, reduced to save the Fund from bankruptcy by the Fiduciaries, I think it gets made whole. BUT- if the cuts were made by a contract agreement (as YRCW employees voted to accept in 2009 and YRCW paid zero and later 25%)- I believe those cuts remain cut because YRCW didn't pay back contributions? I believe if you got out of the fund before the March 2009 cut you weren't cut and will be alright? Someone ask their fund or their Local.
 
Cut the employees of the surviving company tells you Yellow has to die.
Guys at my barn are so old and wore out they know that Workers Comp Settlement is the only way.
Luckily theirs a thousands pieces of unsafe equipment to get hurt on so get you a good lawyer and let them do the rest.
 
Last edited:
jimmy g said:
Ask the Pension or your Local,, because its not as simple as described.

I haven't read the actual Law, but I believe this is how it was explained to me? IF the cuts came thru the Treasury, reduced to save the Fund from bankruptcy by the Fiduciaries, I think it gets made whole. BUT- if the cuts were made by a contract agreement (as YRCW employees voted to accept in 2009 and YRCW paid zero and later 25%)- I believe those cuts remain cut because YRCW didn't pay back contributions? I believe if you got out of the fund before the March 2009 cut you weren't cut and will be alright? Someone ask their fund or their Local.
Click to expand...
DITTO!
 
You must log in or register to reply here.
Top