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.
It's not a terrible idea. There's not a fair way to significantly improve retirement for all without splitting retirement. The pension FAE cap hasn't been raised in 24 years. But you don't want a retirement that has a 30% pension increase because you
might not get another increase in the next 10-15 years?
Originally Posted by
4a2c
We have messed around way too long embracing this concept and should have had a much higher B fund by now but due to our own internal struggles keep getting in our own way.
Thank you. Our desire for a pension increase and keeping everyone in the same retirement has led us to no major improvements. The pension hasn't been increased for everyone since 1999, and the DC % has gone from 6 to 9% since then. Not impressive.