Originally Posted by
2BEER
I do get some of the advantages to bearing the investment risk, similar to a 401k. The ability to control the investments, the portability (can’t be taken away in the event of company bankruptcy, etc) but I remain very, very skeptical.
First, we will not control the investments, neither will the union. The investments will still be controlled by the company.
Second, yes, it can be taken away the same as our current DB plan and dumped on the PBGC.
One sticking point is that the PBGC will only protect one plan. If we adopt this VB plan and freeze our current DB plan, one of the plans will not be protected.