Guest Martin Posted September 8, 2008 Posted September 8, 2008 We have received a notice of critical status from a plan, but we have not yet received the rehabilitation plan. I'm trying to sort out the rules. I understand the rehabilitation plan will contain some design options. Do all bargaining parties have to agree on the same set of options, or can we bargain for and agree to some options while other employers agree to different options?
Bill Ecklund Posted September 8, 2008 Posted September 8, 2008 We have received a notice of critical status from a plan, but we have not yet received the rehabilitation plan. I'm trying to sort out the rules. I understand the rehabilitation plan will contain some design options. Do all bargaining parties have to agree on the same set of options, or can we bargain for and agree to some options while other employers agree to different options? The plan will come up with the options - usually a default schedule and one alternate schedule. The partries to the CBA bargain over which schedule to adopt.
JanetM Posted September 8, 2008 Posted September 8, 2008 The rehab plan will normally contain options for reductions in future accruals, or increases in employer contributions, in the event that agreement cannot be reached, a default option. Each participating employer will decide which plan they wish to go with. Not all participating employers will need go with same option. JanetM CPA, MBA
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