Re(4): 13th check IP: 64.12.117.70 Posted on October 23, 2007 at 01:53:39 AM by J J Oliva
It makes no difference what happens between now and 6/30/08. The 13th check is funded and will be paid on or about 6/30/08. Of course, that is what is suppose to happen. Remember it didn't happen in 2004, that is what brought the Parker lawsuit. Another question is, "Why does the fund wait till June to pay a benefit funded on Sept. 30th? They say it has to be approved by our actuary. He has to make certain that all areas are not in a loss mode as of Sept. 30th. Of course the pension fund is earning interest on the monies for the 13th check for roughly 9 months waiting for the report. You figure 16-17 million dollars earning a meager 6% will pay 765,000. Not to shabby.