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In 1997 my employer stopped contributing
to the employee pension plan. 95% of the employees have over 20 years with this
company. As of 1998 money was contributed
to a 401k at a fixed amount and a percentage
of any amount contributed by the employee.
Is the conpany allowed by law to discontinue
the pension plan for workers who will be
retiring within the next 10 years?
I understand how they can do this for new employees, but feel that those workers who have worked for 20 or more years are intitled to depend on a pension plan til they retire.



This is a very hot issue! Many big companies are trying to cut back on pension costs and the issue is whether there is an element of illegal age discrimination in it. It happened at IBM and the furor was so great they reconsidered. This is not an easy matter but one that may merit a class action lawyer t get involved for the employees. Good luck on getting it reversed.

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