This is a warning to Trimet employees
A $200 million
pension fund that union Regional Transportation District drivers,
mechanics and other on-the-ground employees count on for retirement is
slowly going bust.
Union members and the RTD agreed to up their
contributions to the pension during negotiations last year, but even so,
the pool is "in funding peril" and will be fully depleted by 2032, a
consulting group warned the RTD board.
The news stunned board
members and the 1,670 employees and retirees enrolled in the local
Amalgamated Transit Union 1001 plan, as well as the people who collect
portions of pensions left to them by deceased spouses.