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Grandfathering provisions with 1989 SS offset


Guest pdbwinchester

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Guest pdbwinchester
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Our company has two pension plans; one for sales associates and one for balance of employees. The office staff was grandfathered with the age change in 1989 at age 60 while the sales staff was not grandfathered and age was raised to 65. Now company is converting sales staff to Independent Contractor status, an failure to apply grandfather clause consistently will cost many sales associates pension benefits since the early retirement reduction of 4.8 % per year will reduce lump sum awards. Is it legal, ethical, or what can be done???

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