I think if you will look at the government takeover of pension benefits that you will find it takes the persons age at the time the government takes over the plan will be the age that determines what their benefit will be, not when they retired. I have studied the government site quite a bit and even talked to someone in Washington about it.
They can sue all they want but nobody is guaranteed to keep their health benefits. A group of salaried GM retirees tried that a few years ago when they stated charging them a premium for their health benefits and they lost. This year all GM salaried retirees 65 and over had to get their own health policies where the hourly has had theirs free for about 15 years longer than the salaried. Is it better to have something or nothing at all? If the companies go into bankruptcy, and the government takes over the pensions, you will get even less. My husband worked for GM (salaried) for 43+ years and may get pension cut to 50%. It's time to get realistic about the economy. Too many people wanted to get out as soon as they could and now they will pay for it.
Local Delphi retirees face cuts in benefits
I think if you will look at the government takeover of pension benefits that you will find it takes the persons age at the time the government takes over the plan will be the age that determines what their benefit will be, not when they retired. I have studied the government site quite a bit and even talked to someone in Washington about it.
July 23, 2009 at 10:35 a.m. permalink suggest removal
Retirees of Delphi organize to fight for health benefits
They can sue all they want but nobody is guaranteed to keep their health benefits. A group of salaried GM retirees tried that a few years ago when they stated charging them a premium for their health benefits and they lost. This year all GM salaried retirees 65 and over had to get their own health policies where the hourly has had theirs free for about 15 years longer than the salaried. Is it better to have something or nothing at all? If the companies go into bankruptcy, and the government takes over the pensions, you will get even less. My husband worked for GM (salaried) for 43+ years and may get pension cut to 50%. It's time to get realistic about the economy. Too many people wanted to get out as soon as they could and now they will pay for it.
February 15, 2009 at 1:34 p.m. permalink suggest removal