Originally Posted by
Fdxlag2
Nope, Don’t have it backwards. They have already funded my pension at 100%. Adding a 25% increase in payout will certainly cost the company money. But adding a new guy increases the liability of the fund by much more. Particularly if they have to project how much your knew cap will be in 30 years. I don’t know what the 4 to 1 ratio involves. I do know that the IPA and UPS went to a gimmick to get around the PGBC funding requirements.
Can the company afford to increase our pension, you bet. Can they afford to double our salary, you bet. Will they is the question.
They certainly won't if the MEC gives them the option to freeze our A plan!
This is a money grab by the guys with over 25 years, plain and simple.
Anyone that does not have their 130K on the day the A plan is frozen is getting screwed out of what we were promised when we signed on.
Screwed so the "we've got ours" crowd can get some more.
It is time to rise up and tell the MEC no, hell no, no effing way!