The CIRS pension plan cuts that management has demanded would affect all CIRS members. But they would not affect all of us equally.
If implemented, management’s proposed cuts (e.g. raising the normal retirement age, eliminating the rule of 85, etc.) would fall hardest on the lowest paid CIRS members, who also happen to be the largest group of employees in the CIRS plan.
According to CIRS data, approximately 4,700 members (out of 8,433 or roughly 56% of the total) have annual salaries below $40,000. Of that number, approximately 3,250 (almost 40% of all CIRS members) have annual salaries below $30,000 per year.
When management proposes to make radical cuts to the plan, the members who could least afford it would suffer the most. They should not be made to pay the price when better and fairer ways to fund the pension plan can be found.
For a breakdown of CIRS plan participants by salary level and union status, click here.