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Question about pensions and unions...
I'm not familiar with unions, but my husband is part of one. He gets a pension through them, and today he told me that if he reaches 30 years of employment and has not reached retirement age yet (59-1/2), they penalize him 15%. He's already worked for them for 20+ years and is now thinking about leaving to find another job to avoid the penalty. This just sounds totally backwards to me...I would think they should reward their loyal employees. Has anyone else heard of anything like this? Am I just misunderstanding it?
Re: Question about pensions and unions...
I could be wrong, but usually situations like that are only if you RETIRE after 30 years of service, but haven't reached retirement age. if you continue to work for them, there shouldn't be a penalty. Of course, every union is different, so who knows? He should speak to his union rep to clarify.
Alyson & Phil | Planning Bio | Married Bio!
Dates & Quinces Blog
Yeah, that is what I was thinking, but he said he heard this from one of his current co-workers who is being penalized. Of course things could have easily been miscommunicated or misunderstood...
Don't want to get into it here, but he'd rather not talk directly to the union. He says I don't understand because I'm not in the union, and he's right...I don't get it! Sigh...
Alyson & Phil | Planning Bio | Married Bio!
Dates & Quinces Blog
TTC/PG Blog | Mommy Blog