Monday, January 27, 2014

Looks like Denver RTD is about to screw their employees right out of their pensions

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.

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