Pension Fund Up More than $84 Million

Our Pension Fund assets are on the rise. The fund’s assets are up to $693.9 million as of March 31—an increase of more than $84 million increase in the last nine months.

The Pension Fund is now officially in the Red Zone. Under the Pension Protection Act, the fund was required to suspend the lump-sum benefit option. Otherwise, the plan’s Red Zone status will not affect your pension benefits.

The Fund’s actuaries and financial advisors say the money negotiated under the contract is enough to protect our benefits and move the Fund out of the Red Zone over time.

It will take time to turn our Pension Fund around. But we are moving in the right direction.

We will continue to issue regular Pension Fund updates including a report at every General Membership Meeting. We’ve all had enough of information brownouts when it comes to our benefits.