Quagmire - union rep put out a msg that 500+ guys are over 60 and 100 guys under 60 have 'locked-in'. A 'locked-in' guy doesn't have to retire. If they choose they can relock every month. Forget to relock and they're retired at the end of the month. No mulligans... guys have tried. Adios.

Prior to retirement there are three statuses -

1. They're here (retire any day with the end of month value). Under age 50 is quit, after 50 is retired.

2. Locked in(retire any day and get the end of month value from 3 months prior). You can lock in, and relock, your entire career. Most guys do it for the last year or so prior to retirement.

3. Over 60 and automatically get the end of month minus 90 days prior value(that's what makes the company sweat with 500+ guys, mostly senior, and w/b, CA's in that bracket)

There is no 'notice'. Guys get the 'locked-in' status mixed up. You can lock in for years.

With the 60+ guys, and under 60 guys that are locked in, both having access to the market value 90 day look back feature there's significant attention being paid to the decision to retire NLT than Oct 31(get July 31 unit value) or earlier.

We'll have to wait and see how many additional guys leave EOF Aug/Sep/Oct due to the current market conditions. We're averaging 20-25(?) right now. Guys are guessing normal (60-75?) or up to 200, but it's just guessing. Financial advisor stated there's lots of attention, he thinks the number will be 'significant', but no one knows what the number will be.

Clear as mud?