Recently, a member called me with a concern that his pay credits on his pension did not look correct. Upon further review, I clearly saw there was a discrepancy between his total pay and the amount he received in pay credits, so I brought this to Frontiers attention and requested they go back and review his pay credits. The issue found was that his differential pay (as explained in our union contract General 3.19) was not included properly to determine his pay credits. Frontier identified the error and was able to rectify the members' pension cash balance appropriately. Once the initial error was acknowledged by Frontier, I immediately insisted that they do a full review of every member represented by CWA Local 1298 to determine if others were impacted as well. The company has now completed their review, back to 2015 as requested, and has identified that a total of 130 both active and retired members also had understated pay credits due to differential pay (as explained in our union contract General 3.19) that was accrued in 2015 and that amount in turn was used to calculate 2016 pay credits.
The total amount that Frontier understated to our members' pay credits is $86,999.52
Milliman will be sending letters to notify each of the 130 active and retired member of this error and provide the amount that their cash balance accounts, monthly annuity payments, or lump sum are being increased by.
Always be sure to check your pension with Milliman, you can contact them at 866-333-2074 or access your account on line at www.millimanbenefits.com