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People currently accumulating benefits will stop accumulating. It’s a pay cut. Plan was closed in 2012, so these are longtime employees. People currently coll
by JOnAgain 7y ago
People currently accumulating benefits will stop accumulating. It’s a pay cut.
Plan was closed in 2012, so these are longtime employees.
People currently collecting pensions are not affected.
Ex employees in the pension are being cashed out with lump sums.
Source: https://www.wsj.com/articles/erie-hit-rock-bottom-the-former-factory-hub-thinks-it-has-a-way-out-11570440601 https://www.wsj.com/articles/erie-hit-rock-bottom-the-former...