All above are correct. As I was listening, I couldn't help but think to myself that the EBD and CBD's were trying way too hard to sell this. The CBD on the next call kept saying also that 90% was the goal for MRP. Unless that has changed, 90% to MRP is really the new base even though 80% is the bottom of the range. Very few people will remain above 100% MRP. Range within a few years will be 90-105% and the 105% will be rare.
So, as an example, if you are at 100% and MRP goes up by 4% in that year and you get a 2% increase, congrats, you are now below your existing MRP (IE: you just took a pay cut). This may go on for a few years until you are closer to 90%. All in the name of "equity". A bad experiment to use with sales people.