Tim Nelson
Veteran
The iam never puts out the plan documents. Out of 210,000 participants, only 80,000 are paying into it, and the funding lost another chunk this year according to my plan docs. Its actual funding is now back down to 94% although its most favorable funding math was pegged down to 101% now, a steep drop already from the 110% from the infusion of cuts off our backs.conehead777 said:leave Tim alone he makes perfect sense. I'm glad he has posted here. To let us aa members know the truth. I believe Tim and real tired. And not you the reason there's more people on here who are in it who. Speak out against it. I do not want a union must less a union giving up major connsesions controlling my retirement money
Vesting is only after 5 years, so you better put in 5 years. If you want to protect your spouse if you die then you either have to claim the spousal offset which the iam pockets and whacks YOUR benefits up to another 40% or your wife or husband gets zero and as Willy Wonka said, "You get nothing..have a good day, SIR".
Never mind that you get YOUR pension suspended if you go back to work....and you must work at least 33 hrs a week or you get credit whackings. We had one retiree who thought he was goin to get $500 a month but only got $67 a month after the iam pension pinched and taxed his pension. Its a ponzie scheme and thats all you need to know.