Originally Posted by
Denny Crane
Ahhhhhh, the "we know what can happen to a DB type plan" argument. Yes, the MBCBP is a DB type plan but.......it will not be lost in tough times or a bankruptcy like the old DB. My understanding is it's your money in an account in your name. You just cannot control what it is invested in.
There is nothing wrong with that. Only now you are dictating how I (and many others close to retirement) are paid their money. Maybe they want something different. This is why the optional part is so critical. Then everyone can choose what's best for themselves.
Denny
I'm not dictating anything, I am advocating for my money to be mine and yours to be yours. I don't think trading a tax advantage scheme for you for a year or two is a fair trade to lock my money up for decades. The "optional" is not optional and never has been. We are hoping to design as brand new plan that has specific features we desire, along with differed tax liability. This new, never before created or approved plan relies on government approval, color me skeptical.