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Saturday, December 30, 2017
LLNS Pension Recalculation
LLNS Pension Recalculation - May 2017 Hello LLNS Pensioners: Some of you, myself included, may have received a letter from the LLNS Defined Benefit Pension Plan last May 2017. The letter to me indicated that they had discovered an administrative error with my monthly payment. They indicated that I had received overpayments from the plan in all payments since retiring and that I must repay the plan. They proceeded to make a repayment deduction from my monthly pension check. Unfortunately, this repayment deduction was made on an after-tax basis and the so called overpayment was made on a pre-tax basis. This was wrong and they should have known better. Why is this important? Assume that you are incrementally taxed at 25 percent and that they said that you were overpaid $2000 over the course of your retirement. You would have paid $500 in taxes and received $1500 in pension cash. When they applied the after tax repayment deduction they took $2000 out of your pension payments and you are
By scooby at December 30, 2017
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