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Anoymous

The clock is ticking. The stress and the uncertainty are growing with each day. That being known, I thought that I would contact a few of my creditors and see what help I can expect as the result of my pension being cut 53%. I believed that if I approached them we could work out something satisfactorily for both. Well I was “WRONG”.  They said that they have no policies in place for “HARDSHIPS”. There statement to me was that if I was unable to meet my obligation, it was to sell.  As long as I owned I was required to pay what I owed. I know that I am not alone here. These cuts must be stopped. This country will see a financial tsunami like never before. Words and actions from creditors may differ somewhat.  Bottom line, they want their money and they will use the law to collect what is owed to them. On the other hand we had contracts. We lived and worked within the contract. We have earned our pension.  We have worked many years to earn this pension.  Now we are being taken back on the promises made to us. If allowed to happen we will witness a snowball effect through the economy. The effects will be uncontrollable as well as devastating, unless that is the plan.

The plan will not succeed as written. The plan cannot exist when companies continue to exit.  The method of voting is tilted and unfair.  Only ballots received should be counted. The funds Director and Trustees are responsible for the condition of the fund today, not the retirees.  Purposed cuts are not equal and unfair and unjust. There should be “NO CUTS.