Originally Posted by
Rain maker
Pat May was willing to sell everything to get his new pension plan created even if it meant splitting the workforce (which is a terrible idea). I hope everyone knows, if this pension plan goes forward, the legacy plan will never see another raise again and everyone stuck on the leagacy plan will slowly lose their pension value through inflation until its gone.
I am not sure who didn't understand this, the TA was a choice to take your retirement monies increase via remaining in the pension with the higher FAE or lock in a smaller increase in FAE and move to the new plan which will grow with future raised IRS limits and wage increases. The pension was not being terminated but it was in fact being sunset and any future increases to retirement monies would of course come into the new plan, which for even those who stayed in the pension could benefit from if we increase the 9% part of the plan and/or raise the IRS cap or eliminate it completely. Anyone remaining in the plan would and should have had no expectation that there would need to be any increase in that plan.
BTW, didn't you post most of this "information" on another thread ? I can't seem to locate that thread anymore but I know I read most of your thoughts recently, odd.