How do you know if you are in banded pension plan, or the in the Bargained Cash
Balance Program #2 (BCB#2) ?
4 replies (most recent on top)
"Pre-2009 got “the good pension” and active-employee healthcare premiums in retirement."
Active-employee premiums only for the duration of the current contract. After that, assuming one is pre-Medicare, they'll be on the retired employee medical plan.
Next year will be the first year I'll see it. I believe that if one is healthy, the high deductible plan is economical and will provide the necessary bankruptcy protection.
However, if one needs the low deductible plan, there might be some premium sticker shock ...
Management new hires and transfers-in prior to Jan 1, 2015 will be on the legacy management pension plan. Hires on Jan 1, 2015 will be on BCB2 for management employees.
Union new hires prior to your CONTRACT RATIFICATION DATE in 2009 participate in the legacy bell pension. There is a distinct “Pre-1999 pension benefit” defined in old contracts.
Pre-2009 got “the good pension” and active-employee healthcare premiums in retirement.
Pre-2012 got BCB2 and 50% of healthcare premiums paid in retirement.
Pre-2015 got BCB2 and 0% subsidy but could participate in the health plan at full cost.
Post-2015 got BCB2 but they pay almost twice as much for healthcare as employees hired before the 2015 contract.
Last year my healthcare premium was $95 a month for medical, employee-only.
Someone hired after contract 2015 would pay $173 a month for medical, employee-only.
Should be a section online “about your pension” that tells you. I would like to think you have logged into your account to increase contributions over the years.
Call fidelity