20 vs 30 yr retirement pension

mhendric · #1 Mar 21, 2006, 04:28 PM

Currently, our department has a 50% at 20 yrs, 60% at 30 yrs government pension with a 8.5% contribution. Our union just turned down a 50% at 20yrs, earning 2% each year thereafter to a maximum of 70% at 30 yrs. To get this, we were asked to pay an additional .5% (total 9%). Were they crazy for turning this down?

CaptainForest · Mar 21, 2006, 04:40 PM

Quote:

Originally Posted by mhendric

Were they crazy for turning this down?

Yes they were.

It's called negotiation. They turned it down in the hopes of getting a better offer.



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!