A Troubling Future

[Kennesaw Kid]

Two significant developments in the multi-employer pension world emerged in September, developments which could give manufacturers concern. While this is not the time to panic (we have plenty of time to panic), readers should take notice.

http://www.jdsupra.com/legalnews/a-troubling-future-part-one-teamsters-16242/

 

[Deleted member 5115]

As required by the MEPRA, retirees receiving a disability pension or those age 80 and older will not suffer any pension reductions, but other retirees will see their pensions reduced based on a sliding scale of age and years of service.

This is the first I heard that it would be based on an age/years of service formula. Many funds have a 'magic 80' for retirement where your age+years of service=80 gets you a retirement. i e 55 years old and 25 years of service, 60 years old and 20 years of service and so on.

As for the rest of that article the unions can 'demand' anything they want at contract time, I don't see the employers upping the ante on what they can or will pay in a gross wage package.

 

[autocar65]

I know I will never retire. I spent too many years in my youth doing idiotic things so now that I am soon to turn 60, I will be paying for it. Selfishness is a disease that just seems to effect all of us. Union Hall or Board Room. We are the ones who suffer in the end.