Posted by Stacey, a resident of the Amberwood/Wood Meadows neighborhood, on Oct 12, 2009 at 7:34 am Stacey is a member (registered user) of PleasantonWeekly.com
Just to clarify, what I read from the board packet is that the $10,000 fringe benefit is already in the contract. Currently the contract says the $10,000 goes into a tax sheltered annuity. The change is to add "or in cash" to the contract.
Posted by Dark Corners of Town, a resident of the Country Fair neighborhood, on Oct 12, 2009 at 8:18 am
Adding the words 'or in cash', is my read as well. What is motivating the change and why is it retroactive? Does it mean the benefit was not put into an annuity in 2007 and 2008? Or was it and it will be converted to cash? What are the implications to calculating the pension?