YOU DID WHAT TO DISABLED UBC MEMBERS??
As a pension lawyer for over 20 years, I cannot think of another
case where the plaintiffs were more deserving and needing of their
retirement benefits. At the time of settlement, some had lost their
homes, cars, or other valuables because they were unable to stay current
on their financial obligations after the drastic cuts to their DRB.
Others told me they were sleeping on their friends’ sofas or children’s
basements, or had made similar drastic lifestyle downgrades just to get
by. And one class member told me he had moved into a tent! I get tears
in my eyes when I think about it. Given all of this, the settlement is
especially meaningful, as it will enable our disabled class members to
return to a life without such severe financial stress..........
APPLAUSE BROTHERS DON LEE AND THOMAS UNDERWOODS DISPLAY OF REAL BROTHERHOOD.
"Lastly, I would be remiss if I did not mention that our class
members were absolutely the best clients a pension lawyer could hope
for–always thankful and appreciative of our efforts and unbelievably
patient with the litigation process. We were also fortunate to have
great class representatives–Tom Underwood and Don Lee–who assisted with
the litigation in more ways than I can count"..... As a pension lawyer
for over 20 years, I cannot think of another case where the plaintiffs
were more deserving and needing of their retirement benefits. At the
time of settlement, some had lost their homes, cars, or other valuables
because they were unable to stay current on their financial obligations
after the drastic cuts to their DRB. Others told me they were sleeping
on their friends’ sofas or children’s basements, or had made similar
drastic lifestyle downgrades just to get by. And one class member told
me he had moved into a tent! I get tears in my eyes when I think about
it. Given all of this, the settlement is especially meaningful, as it
will enable our disabled class members to return to a life without such
severe financial stress.......... ..........Notwithstanding the
foregoing, or that the cuts caused severe financial hardship to our
disabled class members, Defendants (Carpenters Pension Trust Fund -
Detroit & Vicinity Pension Plan)fought us tooth and nail for over
three years–indeed, even after the federal district court twice ruled
that the cuts were illegal. It was only while the case was pending in
the Sixth Circuit Court of Appeals that Defendants agreed to settle the
dispute, perhaps because they realized their odds of prevailing in the
appellate court were slim to nil. In general, the settlement restores
back and future DRB benefits at 95% of the original benefit level until
age 62 when the benefit increases to 100% of the full unreduced
pension--an excellent result by any standard or measure.
BUT HERE’S THE BEST NEWS. Last week, the Plan distributed over
$15 million in back DRB benefits owed! The class members will also
receive (in today’s dollars) over $24 million in future benefits. Thus,
the class members will receive a total of over $39 million in additional
benefits as a result of the litigation.
THE RATS LOSE AGAIN
