On Friday, August 3, 2018, the Department of Treasury approved the Western States Office & Professional Employees Pension Fund’s application for a reduction of benefits under a federal law called the Multiemployer Pension Reform Act of 2014 (MPRA).
As a reminder, our Pension Plan faces very serious financial troubles. It is in “critical and declining" status, and it is expected to run out of money during 2036. The Board of Trustees made the difficult decision to apply for the benefit reduction in order to preserve our Pension Plan. The proposed “Pension Benefit Reduction and Recovery Plan” will stabilize the Pension Plan's finances and allow it to continue to pay benefits to all participants in the future. However, a shared sacrifice is required, as most Plan participants will see benefit reductions. Information regarding the plan is available on the Recovery Plan tab above.
The U.S. Department of Treasury (“Treasury”) will be mailing out voting ballots to all plan participants in mid-August. At this time the exact mailing date is not known. However, this website will be updated once the mailing date is confirmed.
Note: The Pension Plan is not involved in the voting process. Voting is conducted by a third party contractor hired by Treasury
Your ballot will be mailed by Treasury using first class mail, addressed to your current address on file with the Pension Plan. A sample copy of the mailing envelope has been requested from Treasury and will be posted to this website when received. That way you will know what to look for in the mail.
Note: If your address has changed, please call the Pension Fund Office’s Recovery Plan Call Center at 1-888-999-4089 to update your address. The Call Center is open 9 am to 5 pm Pacific Time, Monday through Friday.
ADDITIONAL INFORMATION THAT WILL BE ADDED ONCE WE KNOW THE MAILING DATE AND VOTER SUPPORT CENTER PHONE NUMBER
You will receive a ballot packet in the mail that includes a ballot, ballot explanation, and voting instructions (including voting dates). You can vote by U.S. Mail, phone or internet. You will be provided an access code to use while voting. Treasury will provide a number to call if you need voting assistance. Please note that the Trust Office will not be able to assist you with your questions on how to cast your vote.
Who to Contact