Quote:
Originally Posted by Sylvanfan
They were saying that the employees are a bit peeved that they want to cut pensions when the employees themselves have contributed a billion dollars to the pension fund over the past few years.
When you have CEO's and managment taking huge bonuses, than wanting to cut the pension of employees, that won't go over well.
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But they're not cutting the pension for the employees that have contributed billions of dollars, they're cutting the pension for new employees and creating a legacy plan for any employees that were part of the DB Plan.
Actually - reread the article and maybe they are, but it doesn't go in to much detail.
Other changes could slash defined-benefit pension payments to recipients by roughly 40 per cent, the union asserts.
DC Plans are the way every employer is going nowadays - it benefits the employee too because they're not locked in working with the same employer for the rest of their life - Unions better get used to it.