While transferring pension-plan peril is appealing, there are some precautions companies should be aware of.
read more: Record pension deficits for U.S. corporate pension plansRead More »
What About Pensions?
Several of our NCRO members have expressed concern over the future of pensions, more formally known as defined benefit pension plans. Be aware that the NCRO Board is also concerned and is taking action to defend, protect, and preserve pensions.
Chrysler salaried retirees were fortunate to have their pension assets transferred to the “new Chrysler.” This ensured that our pensions would continue to be managed and funded by Chrysler, at least for the near term. The reason our pensions were transferred to the “new …Read More »
General Motors has announced that it is washing its hands of its defined benefit pension plan for salaried retirees.
Send the NRLN’s sample letter to President Obama and your U.S. Representative and Senators. Urge them to change our laws to prevent companies from raiding pension assets, encourage companies to adequately fund their plans and discourage them from selling plans to third party insurance companies.
http://capwiz.com/abtr/issues/alert/?alertid=61490716&PROCESS=Take+ActionRead More »
Dear NCRO Member…
Recently there have been a couple of pension related issues that have
come up that the NCRO is investigating on your behalf.
First, you should have received some Annual Funding Notice(s) from
Chrysler that reflects a continuing decline in pension funding. In addition
there was a blue slip included with the Chrysler Group LLC Pension Plan
Notice that stated that Chrysler was electing to take advantage of the law
that allows them to delay funding for plan years 2010 and 2011. In addition
to this, Chrysler has stated in their …
From NCRO member firstname.lastname@example.org
For the past 20 years my 1099-R showed box 2a (Taxable amount) blank, and box 9b (Total employee contributions) with the amount that I contributed. My 2011 1099-R shows box 2a with the same figure as box 1 (Gross distribution) and box 9b (Total employee contributions) blank. I contacted Benefit Express several times and they responded saying that Chrysler would not change anything. I contacted another retiree and his 2011 1099-R also showed the same condition.
It appears that Chrysler is …
From a NCRO member:
When is NCRO going to discuss/ explain as best they can why/how Fiat did not contribute to the Pension plan last year?
Why is Fiat allowed to do this?
Also, what happens in 5 years when, I believe, they must pay all monies do to bring up the pension plans to 100% funded according to U.S. law?