05-03-2009, 09:49 PM
Absoutely true! The new pensions cheats evetyone but the few union guys who want to retire out immediately with more money ! Can you say AIG ?!
Why...because a few union guys are going to leave ASAP and drain the pension fund thereby raising EVERYBODYS yearly contributions! What is the solution?
A 5 year vesting period in the new retirement. In short nobody can retire under the new retirement plan within the next 5 years. Until then everyone has to retire under the old retirement plan.THE NEW FUND WOULD STILL BE IMPLEMENTED....but no one can retire out for 5 years WITH THE NEW "NO AGE PENALTY". How many new guys plan to "retire" in the next 5 years?!
This would solve all the problems because there would be no reason to immediately raise the contribution rates for everybody because there won't be a mass exodus and an increased draw on the pension fund. The fund has time to increase for the new longer and early retirements. Tier 1 and tier 3 could maintain their present contribution rate and a "reasonable" hard cap could be put in after 5 years.
OF COURSE THE UNION WOULDN'T APPROVE OF THIS VESTING PERIOD BECAUSE THEIR LEADERS COULDN'T CASH IN IMMEDIATELY AND SCREW EVEYONE. THE UNION WILL OF COURSE BALK AND THROW OUT MORE BULL CRAP WHY THEY CAN'T DO THIS. :mrgreen:
ALL NEW RETIREMENTS HAVE A VESTING PERIOD...EXCEPT OURS. I WONDER WHY? :devil:
Why...because a few union guys are going to leave ASAP and drain the pension fund thereby raising EVERYBODYS yearly contributions! What is the solution?
A 5 year vesting period in the new retirement. In short nobody can retire under the new retirement plan within the next 5 years. Until then everyone has to retire under the old retirement plan.THE NEW FUND WOULD STILL BE IMPLEMENTED....but no one can retire out for 5 years WITH THE NEW "NO AGE PENALTY". How many new guys plan to "retire" in the next 5 years?!
This would solve all the problems because there would be no reason to immediately raise the contribution rates for everybody because there won't be a mass exodus and an increased draw on the pension fund. The fund has time to increase for the new longer and early retirements. Tier 1 and tier 3 could maintain their present contribution rate and a "reasonable" hard cap could be put in after 5 years.
OF COURSE THE UNION WOULDN'T APPROVE OF THIS VESTING PERIOD BECAUSE THEIR LEADERS COULDN'T CASH IN IMMEDIATELY AND SCREW EVEYONE. THE UNION WILL OF COURSE BALK AND THROW OUT MORE BULL CRAP WHY THEY CAN'T DO THIS. :mrgreen:
ALL NEW RETIREMENTS HAVE A VESTING PERIOD...EXCEPT OURS. I WONDER WHY? :devil: