Please don't post your comments more than once. I moderate all comments and a delay between posting and appearing is part of the drill here. I get to all comments in due time. Please don't continually repost the same comment. Only one will be posted. Thank you.
Monday, May 21, 2007
The Lipscomb methodology deprives retirees of the employer match to actual earnings in the variable account. Instead, the revised method considers employer match only as if the money had been in the regular account for the total length of time the retiree was in variable. There are two calculations done: var@var (the old method which provides a dollar for dollar match to variable account balances) and the var@regular (which matches only what the variable dollars would have earned if the money had been in the regular account). There have been claims of massive harm, but to date the claim has not been backed up with a sufficient number of documentable cases to file suit. If you are in the category of having experienced harm (i.e. lost money that you thought you should have been entitled but for the change in methodology), get in touch quickly. Both the time and motivation for filing suit is getting shorter each day.