Note: The following message is addressed to all IBEW Local 1245 members at NV Energy.
Brothers & Sisters,
As you may have seen, the Company is challenging several of our computations on the relative value of the Company’s proposed cash balance account plan.
These computations were intended to show the impact of the Company’s proposed cash balance plan on your retirement benefit, whether positive or negative. The values are estimates based on demographics and wage information provided by NV Energy.
We have had the Union’s independent actuary review the company objections and he stands by his calculations. If you have any questions about how we arrived at your value, please don’t hesitate to contact the Union at organizingsppc@ibew1245.com. We will gladly correct any error that we made, but to date we do not believe that we have made errors in our computations, using the information provided by the Company.
Randy Osborn, Business Representative