What is the name of your state?NC
My employer recently changed their/our retirement plan by eliminating a pension and replacing it with a company savings plan. The new plan incorporates age+years of service to determine the % contribution (ranging from 2% to 5%) to be put into it with company only funds.
The change now appears to discriminate based on age. Thus if a new employee aged 60 is hired at the same time and rate as a 20 year, the former will get the equivalent of 4% of pay versus 2% for the 20 year old. Thus at the end of 10 years, the 70 year old would have double the savings of the 30 year old employee.
Is this age discrimination? Sure feels and smells like it!
My employer recently changed their/our retirement plan by eliminating a pension and replacing it with a company savings plan. The new plan incorporates age+years of service to determine the % contribution (ranging from 2% to 5%) to be put into it with company only funds.
The change now appears to discriminate based on age. Thus if a new employee aged 60 is hired at the same time and rate as a 20 year, the former will get the equivalent of 4% of pay versus 2% for the 20 year old. Thus at the end of 10 years, the 70 year old would have double the savings of the 30 year old employee.
Is this age discrimination? Sure feels and smells like it!
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