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Re: Chicago Symphony Orchestra on strike

Author: kdk ★2017
Date: 2019-03-12 21:46

"The press release says that the Board of Trustees has presented the orchestra with a reduced benefits package, which includes an end to pension stipends of $3,000 per year for orchestra members after they retire."

This confuses me. Surely, their current defined pension benefit is more than $3,000/year. Is a "pension stipend" different from a monthly pension distribution payment?

The move by management away from defined benefit plans toward defined contribution retirement programs is, of course, epidemic in every area.

I think Muti took the same position when he was in Philadelphia during one of the orchestra strikes here.

Karl

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