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"Pay Mix" update...
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<blockquote data-quote="Scuba_Steve" data-source="post: 5447036" data-attributes="member: 5207"><p>We all knew the plan was to get rid of MIP when they went to 1 year vesting.</p><p></p><p>I am almost certain they will be announcing that MIP will go away next year completely to be replaced by a salary increase that will in no way make up for it.</p><p></p><p>It makes perfect sense because starting in 2023 the base salary of management no longer counts to retirement benefit calculations. The benefit calculations are forever frozen as of 12/31/22.</p><p></p><p>They could not do away with MIP, and give everyone a salary increase to "make up for it" (we know whatever small increase they do won't) until after the end of the retirement plan this year because any salary increases would have increased benefits that would have to be paid 'forever'.</p><p></p><p>The MIP going away totally coincides with the retirement elimination plans made back in 2017, the changing of MIP to 1 year vest 5 years ago, and the management retirement benefits accruals ending at the end of this year, and probably also to coordinate with the teamsters contract year.</p><p></p><p>Make no mistake, this was ALL planned together, many years ago as part of one big plan to drastically reduce management benefits and pay.</p></blockquote><p></p>
[QUOTE="Scuba_Steve, post: 5447036, member: 5207"] We all knew the plan was to get rid of MIP when they went to 1 year vesting. I am almost certain they will be announcing that MIP will go away next year completely to be replaced by a salary increase that will in no way make up for it. It makes perfect sense because starting in 2023 the base salary of management no longer counts to retirement benefit calculations. The benefit calculations are forever frozen as of 12/31/22. They could not do away with MIP, and give everyone a salary increase to "make up for it" (we know whatever small increase they do won't) until after the end of the retirement plan this year because any salary increases would have increased benefits that would have to be paid 'forever'. The MIP going away totally coincides with the retirement elimination plans made back in 2017, the changing of MIP to 1 year vest 5 years ago, and the management retirement benefits accruals ending at the end of this year, and probably also to coordinate with the teamsters contract year. Make no mistake, this was ALL planned together, many years ago as part of one big plan to drastically reduce management benefits and pay. [/QUOTE]
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"Pay Mix" update...
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