contract extrension

[golden85]

What is the name of your state (only U.S. law)? California

Our contract extension will end on May31st 2011. On the table is our "golden 85 rule". I am presently able to retire with my pension at the age of 55 (my current age) If they axe the "golden 85" my money remains intact but I won't be able to access it till I'm 62. Here is my dilema, I'd like to remain working, and know that my pension funds are attainable when I am ready to retire be that at 55 or 75. I'd like to know, if the contract kills the "golden 85", do I have a "grace period" to file for my retirement or must I retire before the contract extension ends to ensure my "golden 85" ? Thank-youWhat is the name of your state (only U.S. law)?

 

[justalayman]

you will have whatever the new contract or any associated rules allow. If there is nothing now, unless there would be something inserted into the new contract to provide a grace period, there is no grace period. This is simply a contractual matter so whatever the contract in place says is what it is.

In similar situations I have seen such rules implemented to allow such a grace period but unless it is included, there isn't one.