Monday, January 23, 2006

The failing of the system

I believe that this entire action is to force those of us who were going to
go inactive in UCRP and start drawing on it later, to roll over our
retirement into the new system giving them a much larger pool of money to
steal from. I for one do not trust going to this new system there is no
grantee that they will not plunder our retirement funds as has happened a
number of times before. One of the main reasons that I originally came to
the lab was for the retirement now after 31 years the regents by the stroke
of a pen put my entire life on the line with absolutely no grantees what so
ever. Not that I would any longer trust them. As they have shown by this
vote my 31 years of dedicated service means absolutely nothing to them.

Jan D. Batteux / LLNL I know it hasn't happened to me yet but it certainly
will at a later date.

Comments:
Got it in one, Jan.

It should come as no surprise that the deck is being stacked so that the "inactive vested" option is about as appealing as a meal of fruit cocktail and Vaseline. Couple that with the hosing of retirees and one might get the idea that somebody up there doesn't like us.
 
There will be no inactive vested option if EVERYONE is transfered to the new plan. There will be continued contribtuions for those that are vested but not yet retired. Irregardless, I feel that we just got the royal screwing by UC and LANS.
 
Those who have worked for LANL in the past and are vested would be in the inactive vested plan. I think the UCRP documentation has a number for that category. It is independent of those currently active employees of LANL. The inactive vested are in the same category as retirees.
 
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