Originally Posted by
tcook052
http://www.theglobeandmail.com/globe...rticle2039866/
Air Canada faces $1.6-billion in pension-funding contributions over the next four years, spurring management’s push for contentious reforms.
In contract talks this spring, the country’s largest carrier has proposed placing new hires on defined-contribution plans, which don’t provide a guaranteed level of payout upon retirement.
1.6 bill? I think five years' worth of AC executive bonuses is equal to this amount.
I work at a decent Bay St. global software firm and my "pension" consists of 3% of my salary matched by company, if I contribute 6% of gross salary to the plan. It's just a mutual fund plan where you can make your own fund choices.