#### 2.1 First Three Years:

- A moratorium on beneﬁt cuts for three years.
- Increase employer contributions to the plan by 6% a year over a ﬁve-year period (a
34% increase), dropping to 2.9% a year in year 6 and following.
- Reduce fund administrative expenses by 10%.

Since the Lowman letter and plan presentation, MPS has clariﬁed that the 6% increase is net of
wages. In other words, since pension contributions are calculated as a percentage of wages if
wages improved in a particular year by 2%, then the required pension contribution increase that
year would only be 4%.