to find a VSIPP form for you to submit if you plan on retiring in the next couple of months. As we wait to find out the published results that will be used for calculating the pension payouts in 2013, it looks as if retiring after Dec. 31st, 2012 will be better financially than retiring in 2012.
We also have another surplus timeline that is currently taking place which affects another 23 of our members in the Consumers work-group in Grand Rapids, and this is in addition to 9 members that we already have on the Employment Security Commitment (ESC).
This timing may be perfect to be able to place some of our members into jobs here locally, as well as helping retiring members leave with extra money. Management is required to pull a VSIPP list after January 2, 2013 due to the current surplus that is taking place. After the list is pulled, the company will start matching up those in jeopardy of losing their jobs with those that are looking to leave.
We should be made aware of the rates used to calculate 2013 pension payouts on or about December 17th, so watch this space!
If you have any questions, please feel free to call your Union Hall.