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GM’s pension plan changes are troubling

…Target benefit plans would be an example, a real hot button in pension circles. Morneau Shepell defines a TBP thusly: “To plan members, it is virtually indistinguishable from a regular DB plan except that accrued benefits are subject to reduction if the funding level falls below a given threshold.” So let’s say they’re run like DB plans, with flexibility. (HOOPP defines itself as a DB plan, though there are contingent benefits, such as cost of living increases, which could be reduced in the event of the plan not being fully funded.)

Read more on the Toronto Star