Birdstrike
Atlantic City
- Joined
- Jul 2, 2002
- Posts
- 13,334
Ref the new pension plan recently announced at DAL, the so-called “cash balance pension plan.”
"...In these plans, a company establishes a virtual account for you. Every year you work, more money goes in. It’s different from the traditional pension plan, in which the more years you work the greater the benefit. The companies that are switching to the virtual accounts are going to save tons of money.
And that money is coming from long-time employees. There are lots of lawsuits going on in the country involving these conversions. If you have many years of service with a company and they’re planning to convert, you need to leave your job and get your pension while it’s still under the old plan. It’s unclear whether this is Delta’s tactic. They may be trying to get the long-time employees to leave and are giving them this carrot before they do.
But if you suspect it’s happening at your company, get together with other long-term employees and decide what you are going to do. (extracted from clarkhoward.com) They may be trying to get the long-term employees to leave Article wasn't clear if this impacts all DAL employees or just non-union? What's the deal here? Another way to take a forced early retirement ? Has this been in the works for awhile?
"...In these plans, a company establishes a virtual account for you. Every year you work, more money goes in. It’s different from the traditional pension plan, in which the more years you work the greater the benefit. The companies that are switching to the virtual accounts are going to save tons of money.
And that money is coming from long-time employees. There are lots of lawsuits going on in the country involving these conversions. If you have many years of service with a company and they’re planning to convert, you need to leave your job and get your pension while it’s still under the old plan. It’s unclear whether this is Delta’s tactic. They may be trying to get the long-time employees to leave and are giving them this carrot before they do.
But if you suspect it’s happening at your company, get together with other long-term employees and decide what you are going to do. (extracted from clarkhoward.com) They may be trying to get the long-term employees to leave Article wasn't clear if this impacts all DAL employees or just non-union? What's the deal here? Another way to take a forced early retirement ? Has this been in the works for awhile?
