Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Why was the grandfather clause in the Retirement Plan set at 40 and 15?

April 26, 2017clause grandfather retirement plan

0

10 Posted

Why was the grandfather clause in the Retirement Plan set at 40 and 15?

1 Answer

0

10 Posted

A. Fifteen years service was the minimum service necessary to receive an immediate benefit under the heritage Cooper pension plan. Many companies when revising their pension plans have used age 40 as the cut off age.