Second-tier benefits

Five to Five

The now “famous” deadlocked 5-to-5 vote last week, regarding whether or not to move forward with a second-tier retirement system for new employees, was fascinating to watch but extremely disappointing in the end. I believe it was a lost opportunity for labor to not embrace a second tier. If the unions would have embraced a second tier, it would have taken pressure off if the first tier, but that opportunity is now gone.