Word: varnhagen
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Most firms won't be that accommodating. "We're talking about the people who are most vulnerable and career trapped," says Michele Varnhagen of the Pension Rights Center. People like Stephen Langlie, a retired engineer at Onan Corp., a Minnesota subsidiary of Cummins Engine Co., who claims his current, $420 monthly check under the cash-balance plan, to which the company switched in 1989, pales in comparison with the $1,500 projected under the old plan. Many colleagues have joined him in a class action against Onan...
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