Wretched Wrench
Veteran
- Apr 21, 2003
- 1,626
- 12
I think what you meant to say was a few years back the Company offered the non union workers two choices.
1. Stay in the traditional plan (defined) with the Company contributing....
2.Freeze your traditional(defined)(in other words you keep it) and start a matching 401k.
Correct me if i am wrong please..from what i can tell to say it was taken away could be misleading????
Whether a choce was offered depended on age. You are correct in that no one's pension was taken away. Some were changed from defined benefit to defined contribution. Some older employees were allowed to keep their DB plan.