So the guy on the 15th floor is not done yet. If his savage predecessors had not put the long existing pension to bed a lot more long term employees would have left if their own accord. No sub $$ would have been necessary
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It's much better for the guy on the 15th floor that they ended long term pensions. If he retired now and got a huge pension for life BNY would have to hire somebody to "accidentally" run him over when he was crossing the street one day to cut costs. Paying pensions for life is way more expensive than the sub pay