sakc3112 
Member since Oct 14, 2013


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Re: “City Will Shift to “Defined Contribution” Pension Plan for Employees, Chief Little Says

Hi Guys,

Reading all your comments here and the article stated above, I had a small question regarding the shift from a DB to a DC plan.
By October 2017, employees who have joined the scheme since the staging date are entitled to contribute how much? (Is it 4% over a gradual period of time).
Also, whether the employees in the existing schemes before the shift, who pay less than 4% or nothing at all, are also obliged to pay 4 % by October 2017 ?

Kindly give suggestions or the possibilities in this scenario.
Thanks!

Posted by sakc3112 on 10/14/2013 at 8:01 AM
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