Originally Posted by
SealingStemBolt
However one certainty about a no vote is this probably locks in the retirement plan for another year as-is. There simply will not be enough time to ratify a new LOA before the new year and it's highly unlikely it's even possible to retroactively change a 401k plan once the year has begun.
I don't see the downside since the retirement doesn't change anyway. Jan 1st, matching stops and 12% DC starts. So if you put 10% in (with no match) you get 22%. Today, without the LOA, you put in 10% and get 22%. Theres no additional money. You get a full 2% retirement bump in 2025 -- more than a year away. Smoke and mirrors.
The simple fact that we're even voting on this leads me to believe that at least some people on the eBoard think this is either a raw deal or that there is more coming to the table if we reject it.