Indexing is Here!

We have been talking with you for the past four years regarding the indexing of pension benefits. The Trustees have approved indexing to begin in September 2004. Beginning this month, your pension benefit will permanently increase by 0.2%.
The indexing plan will be phased in over about 10 years. Each September, pending Trustee review and approval, the index formula will increase by 0.2% (i.e. in September 2005, the increase is scheduled to be 0.4%). Once it is completely implemented, it should ultimately result in an annual 2% increase in benefits for all retirees. This increase is designed to help offset the effects of inflation.

Full Issue: No. 153 - September 2004

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