The TWU also wanted to lower the age at which point the employee is eligible for a full pension from 55 to 50, and the number of years worked to qualify for that pension from 25 years to 20. A 20/50 pension plan had been put in place a few years after a transit strike in the mid-1960s. The immediate retirement of thousands of the most skilled workers, followed by the soaring costs of workers receiving one or more years in retirement for each year worked, was a key factor in the financial and physical collapse of New York City's transit system in the 1970s. By 1980, a less generous 25/55 pension had been imposed on new workers by the state legislature. By the time of the strike, the financial damage from the 20/50 pension plan had abated, because most of those who benefited had retired with their pensions funded, but those hired under the 25/55 plan were approaching the age at which those who preceded them had recently retired.