30 days is what I'm told...
From the people who work at the benifits web....
5 replies (most recent on top)
DB = Defined Benefit ("DB") pension plan, which I believe the Xerox name for it is RIGP (Retirement Income Guarantee Plan) versus a Defined Contribution ("DC") pension plan, which is what a 401K plan is.
As for notification time frame, the plan documents should outline some data while State and/or Federal laws will outline the rest. In general, the required notification period can range from 0 days for administrative changes, such as making the default plan document delivery method electronic instead of mail, to 60 days when their is a material change in the actual benefit provided.
What is the lump sum option? Are you talking about pension?
What does DB stand for?
Yes u are right about notification...
I belive we are to get 30 days to make a move...
If it is not bolted to the floor, its under review. That said, the DB plan has certain rules that the company has to adhere to in terms of what can be changed, what cannot, and notification periods. Personally, I expect the retiree health plans to be looked at before the old DB plans.