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    mhendric's Avatar
    mhendric Posts: 1, Reputation: 1
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    #1

    Mar 21, 2006, 06:28 PM
    20 vs 30 yr retirement pension
    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's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Mar 21, 2006, 06:40 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.
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