My husband retired from UPS after 32 years of hard work. He endured it that long as he knew that he would get a fair pension if he stuck it out. There were several contracts where an increase in a pension contribution was taken in lieu of a raise. We have been told that on August 23, notices will be sent and we will see a reduction in our pension of 40%. (We won’t know for sure about the percent until we receive our notice).
This will be devastating to us! We still live in our starter home (after refinancing twice to help our boys with college. We still are making mortgage payments. For us, this is not about a second home, vacation, or giving up a luxury, this is about being able to pay our monthly bills. We do not feel it is fair to victimize retirees who have EARNED this benefit!
I realize there many factors that have put our plan in trouble, and these factors need to be addressed. But to cut retirees benefits? Up until 2 years ago, it was illegal. Something smells very rotten here!
Please help us keep our pensions so we are not thrown in to poverty.< Back