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Politics : THE WHITE HOUSE

SPY 680.73

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Dec 15 4:00 PM EST

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To: Oral Roberts who wrote (4981)	5/22/2007 2:30:24 PM
From: pompsander	Read Replies (1) of 25737

OR: If I may, I work in the Pension field and might give you some advice here...it's free so you get what you are paying for. Sounds like you contribute to a Taft-Hartley Pension Fund, often called union funds even though the board of trustees is half employer reps, half union. (Can't be an all union fund by law). Under the new Pension Protection Act every plan must be certified by its actuary no later than next Spring as to its funding status....there are zones (Green, Yellow and Red). Many plans are poorly funded --and there are many differnt funding ratios, but if the new PPA funding ration you refer to is actually at 43%, then this is a red zone plan and it will be forced to create a "rehabilitation plan" requiring both benefit cuts and significant new employer contributions. It doesn't need to be 100% funded, but needs to be much better than it is. You have a right to all this information and should demand it in writing from the Plan Trustees or Administrator. If this fund needs a cash infusion and you bargain your new labor agreement containing continued participation...there could be some unexpected surprises. anyway, for what's it worth.

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