I generally don’t make a big deal out of double-dipping at parties. In large groups of strangers, it’s inappropriate and unsanitary, of course. But among family and close friends, I usually let double-dipping slide without comment.
However, sometimes double-dipping is unacceptable and must be addressed. This time, instead of the usual chips-and-salsa variety, it’s an abstract double-dip involving PepsiCo’s retirement benefits.
The beverage giant recently changed its benefit plan to cut 401(k) matching contributions to employees already enrolled in the company’s defined benefit pension plan, according to a company memo obtained by Business Insider. The workers will still keep both the DB and DC benefits, just without a 401(k) match.
When a coworker showed me the memo, I basically shrugged and said, “Yeah … and?”
To me, it only seems fair that workers who already have guaranteed retirement income to look forward to through a pension plan not be able to reap more guaranteed money through a 401(k) match. I say that maintaining such a policy — aside from being wildly expensive and I’d think unsustainable — would be the ultimate gross-out double-dip. I, for one, applaud Pepsi’s move as being both fair and fiscally responsible.
What do you think? Is double-dipping — either in bean dip or in benefits — ever okay? Or, is allowing employees to collect DB benefits and a 401(k) match only fair, given the extent of the current retirement crisis? Share your thoughts in the comments.
