Sentences with phrase «fundamental changes to pension»

negotiating fundamental changes to pension, benefits and executive compensation plan designs and designing and implementation of early retirement incentive plans

Not exact matches

In 2011, the Government announced planned changes to the TPS following a fundamental review of public service pension provision by the independent Public Service Pensions Commission chaired by Lord Hutton.

«The Executive Budget calls for what the governor describes as reforms to the state's pension system, Civil Service and some fundamental changes in the way the state does business,» Fox said.

«If we stay on this course we are going off a cliff,» said Suffolk Executive Steve Levy, who backs fundamental changes to the state's pension system, including a move to 401 (k)- style programs similar to those in the private sector.

The answer, McKinney said, is fundamental changes in the state pension system that would include placing state employees into a 401 (k) plan and eliminating the ability of state employees to increase their pensions by working a huge number of overtime hours in their final years of employment.

The switch from a final salary pension scheme to a Career Average scheme is the most fundamental change.