History of TWPP Pension Benefit Increases

November 2014

History of Pension Benefit Increases for Retirees of the TWPP

The information up to 2010 was obtained by a call to the TWPP office by the Secretary of Local R55.

The TWPP was established in 1975. Raises didn’t start until 1981.

1981 varied amounts (like 2007)
1982 – none
1983 – none
1984 – 2%
1985 – 2.4%
1986 – 2.5%
1987 – 2.3%
1988 – 2.5%
1989 – 2.5%
1990 – 3% minimum $25
1991 – 3% minimum $25
1992 – 3.5% minimum $25
1993 – none – December 13, 1993 – The Trustees made a decision that there would be no more increases for retirees until updating for active members could be accomplished for an indefinite future.
1994 – none
1995 – none
1996 – none
1997 – 3% of CPI (Consumer Price Index)
1998 – none
1999 – none
2000 – none
2001 – none
2002 – none
2003 – none
2004 – none
2005 – none
2006 – none
2007 – 4% maximum – Based on CPI and depending on retirement date.
2008 – none
2009 – none
2010 – 1.25% – Depending on retirement date.
2011 – none
2012 – none
2013 – none
2014 – none
2015 – none – Decision made Dec2014.

This document updated Feb 09, 2015EK