Vote Cuts Pension Checks for Retirees

via Altoona Mirror

by Kay Stephens, Altoona Mirror

July 5, 2017

About six months ago, the Blair County Retirement Board voted to cut the percentage being used to calculate part of an employees’ monthly pension payment, based on money the employee contributed. Instead of 7 percent, the board agreed that 4 percent would be used.

And since that vote, the change has been hitting home with employees deciding to retire and those thinking about retiring.

It means $207 less a month for one man who retired earlier this year after working almost 18 years for the county.

For another retiring employee, the change would have meant $248 less a month. But he was able to beat a deadline and avoid the loss.

Blair County Controller A.C. Stickel, who serves as secretary/treasurer of the retirement board, said he made about 10 calculations reflective of the change.

“The biggest was slightly over $200, maybe $220. … But one was as little as $15 a month,” Stickel said.

Read the full article.

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