The Mt. Nittany Corporation is a small, publicly traded manufacturer in Pennsylvania that makes electronic devices. It has a non-organized workforce. There are about 500 employees, 75% of which are non-skilled workers making about $40,000 per year. About 20% of the employees are managers or individual contributors who earn roughly $70,000 per year, and about 5% are highly compensated executives who command salaries of $150,000 per year. Half of the employees have been with the company for twenty years, 25% have been with the company for 10 years and about 25% have been with them for less than 5 years.
Mt. Nittany is considering implementing a defined benefit retirement plan for all of its workers. Given what you know about defined benefit plans, comment on the following:
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