Word: pension
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...great number of points in this letter misrepresent the real impact of the new life insurance and pension plan...
...THESE CHANGES SIGNIFICANTLY IMPROVED PENSION AND INSURANCE BENEFITS". True for employees hired before 1971, and high-income executives hired after. But for the vast majority of future workers, the plan postpones accessibility of the benefits by up to 20 years...
...PENSION PLAN PROVIDED BENEFITS FOR EMPLOYEES WITH "AT LEAST THREE YEARS OF SERVICE." In fact, completion of three years service used to ensure retroactive benefits to the day of hiring. The new plan lacks such a clause...
Simultaneously under the new plan employees with 20 years experience are forced to wait until the age of 65, rather than 45, to begin collecting full pension benefits...
...moment the pension and life insurance story was breaking, officials of an international retail employees union announced they had received enough signatures to call for an employee vote on unionizing the Coop...