#pension

Just go ahead and leave, the pension is a fever dream that only the old folks will benefit from.

I left and got a 30% raise and made back all the lost opportunity within the year. Not to mention I can actually talk to the people at work without the awkwardness because we both know that we need each other to fail to get that VG 4% raise.

https://youtube.com/shorts/eoLQKlCUgHI?is=hdpU2d7NY6zUzdn2

If you don't have pension, don't retire early. Healthcare cost is $3000 per month. Deductible is $10,000 per year.

If you do plan to retire early, before 65, then plan to move to another country. Don't live in the US. Cost of living in other countries are 1/4 of the US. This is my own experience. Good luck.

Town officials are preparing two budget scenarios for fiscal year 2028, one level-funded and another with a 5% reduction. Department heads have been informed that layoffs are expected due to rising costs and insufficient state aid. Pension and health insurance expenses are projected to increase significantly in the coming years. Both the Select Board and Finance Committee have stated they will not pursue another tax override. Residents are encouraged to advocate for increased state funding for local aid.

Abington, Massachusetts

https://www.southshore.news/p/abington-officials-warn-of-layoffs

Lump sum or annuity? And if you are retired, have you found caution-points on either?

TL;DR:

Xerox owes more than it is worth, so in a sale the lenders get the money and probably the company, the lawyers get paid either way, and shareholders get nothing.

Buyers would want the customers, the service contracts and the techs, not headquarters.

If you have a Xerox pension or retiree medical, find out now what is actually guaranteed, because not all of it is.

The company owes way more than it is worth, and the stock is now gambling at a table where the lenders are the house.

So who would be interested?

Most likely the lenders themselves. The people Xerox owes money to swap their loans for the company, and some of them may not even want it. But if enough of them vote yes, the rest get dragged along anyway.

Then you have got the Japanese rivals like Canon, Ricoh, Konica Minolta and... not Fujifilm, exiting the business (as we know it). They do not want the whole thing, just the good bits, meaning the customers, the service contracts and the production printers.

Vulture funds would happily buy it cheap, cut it to the bone and milk the service contracts for years.

And nobody else.

As for who gets paid, it is lenders first, lawyers always and shareholders never. Your stock and RSUs are not worth the paper they are printed on.

Who would they keep?

The techs who fix the machines and the people who bring in contract money. Not headquarters, not extra managers, and definitely not anyone whose job is PowerPoint.

Now the part people should really think about, which is pensions...

A buyer would probably take over some of the plans, especially outside the US, where the law tends to make pensions travel with the business.

The US plans are a different story. They could be handed over to the government pension insurer, the PBGC. It does pay out, but only up to a legal cap, so people with bigger pensions or who retired early could see less than they were promised. If you are already retired you are usually in the safest spot, while people still working are more likely to see their plan frozen, meaning you keep what you have earned so far but stop building more.

And retiree medical is the one nobody talks about. The government insurer does not cover it at all, so it is usually the first thing to get cut. If you have a pension or retiree health coverage with Xerox, now is a good time to find out exactly which plan you are in and what it actually guarantees.

None of this happens tomorrow, but the clock is ticking.

From the latest reporting. Could this be related to the recalculation of married employee pension benfits?

Keep playing the game puppet

https://youtube.com/shorts/eoLQKlCUgHI?is=K-tEhloz8waxecvW

The 1Q27 lump sump will be 3.8% less than 4Q26.

If you are over 60, you will be working for free for Jan, Feb, and Mar. Further interest rate increases mean more months work for free.

Leave by Nov 30 and set Dec 1 as retirement commencement date.

MDT Benefits has been thoroughly useless in answering this question, so trying here: I was RIF’d and on the old pension plan expecting one last contribution from MDT in May. Will they contribute it pro-rated? Or just another reason I was on the chopping block?

@@@I took the lump sum - thanks Google

No Inflation Relief: Verizon's traditional pension annuity does not include a Cost-of-Living Adjustment (COLA). Over a 20-to-30-year retirement, flat monthly payments will significantly lose their purchasing power

I know I'm probably being paranoid, but when and how would employees be notified of pension changes if they were to occur?

no more pension, no more work from home, lower pay than competitors, no longer a chill place to work with Joe Park pushing for rapid innovation. Forced to live in Bloomington IL if you want to get promoted.

Literally all of the reasons that made SF a somewhat appealing place to work are gone. if a young person is looking for a place to work they should just go make more at a big bank. SF will just be older employees building up their pension until they retire and are replaced with AI/ HCL contractors overseas.

Former Shell then former Motiva so posting here since Motiva doesn't have a "layoff" site. Left Motiva years ago. Just got an unsolicited package from Motiva to take an early pension distribution. With interest rates being what they are, I have no desire to do this. Do I need to do anything? I suspect they are trying to get people to take lump sums as rates are favorable for lower lump sums now. I do not want to take this at this time. It would totally complicate my taxes.

I could not find a Motiva "thelayoff" so posting here as they are owner by SA. I left Motive years ago and recently got a large unsolicited package in the mail with details on getting my Motiva pension early. With interest rates being what they are, this is not a good time to take the package. I have no desire to take this now. Do I need to do anything?

3 day week enforcement and pips to be enforced after 2 months data and post notification to employees.

Uk Pension change big reduction employee contributions from 27.

= easy way to reduce voluntary staff out

There seems to be some confsion on this board, I've see at least 2 posts that are off. The 401K isn't actually moving from Fidelity to Goldman. Fidelity is expected to remain the recordkeeper and administrator for employee accts.What's changing is the investment mgm side. VZ has apparently decided to move the role previously handled internally by VIMCO to Goldman, which will act as an outsourced CIO for the 401k + pension assets.

So the bigger story may not be Fidelity vs Goldman. It's VZ moving mgmt of its retirement assets from an internal investment org to an outside firm. Anyone know what happens or happened to VIMCO and the people currently doing this work?

Someone mentioned that pension credits will stop accruing in about six months, which could remove one of the reasons Medtronic used VERPs in the past. If that's correct, does that mean future workforce reductions are more likely to come through RIFs rather than voluntary retirement packages? Anyone familiar with how the pension change affects this?

Any one know what the issue is around the tupe XBS uk staff and pensions I have heard lots of grumbling and mentions of not switching us to the proper pension when we could have.

People are saying it could be back dated money into our pension pot. Anyone had anything? or know what it is about?

Someone explain to me how the pension plan works please? Got hired in 2018. No manager has ever broken it down clearly and my understanding is it also different based on the year you are hired. I know there is a projection chart somewhere but I’m curious to hear an explanation not from the website. Thank you!

No bonus, deferred RSU vesting, pension, low probability of surviving 10-year annual pip = Base is all you get

How high will it go? I sold most of my CVX years ago. I still have a good chunk but def not one of those all CVX EE’s. I’m mid career and already looking for the off rap. Building that 401k and pension till the next lay off. I’ve gotten nearly 20 years and this is a totally different company. Just going to take my job the best I can and ride it out as long as I can as well.

They aren’t even trying to hide their plans anymore. It is common knowledge that once you hit late 40’s you are toast. Good luck becoming a retiree.

For legacy Sprint employees who qualified for the pension and have been laid off by T-Mobile, were you given the choice of 1) full lump sum option, 2) small lump sum with the majority of the annuity option, or 3) annuity only?

For years we were willing to be underpaid at ExxonMobil because of the pension and job security. No bonuses was the trade off. Now with the current state of affairs there is no reason not to leave and go work somewhere else.

No loyalty given no loyalty returned

Anyone know if the PIL document is available to view. What are the conditions and what if you don’t sign it? Does that mean you automatically get the PIP and 3 months pay? If they cut the PIP short, do you not receive anything offered in the PIL? What about benefits like medical and pension balance? Do those get forfeited?

How do I find out if I’m eligible for a pension boost at MR75? Where do I look?? Legacy Cingular here.

Just wanted to remind everyone that you have until the end of September to opt out of contra benefits or you will automatically get signed up for them. If you opt out, it goes into effect t on 10/1 so if you change your mind you have until 9/30 to change. Also just putting this out there…if anyone is d-mb like me and left their pension in VZ and haven’t looked at it, you may want to. I lost $50k in the past 3 months and I’m sick about it!!!

So many people in their mid career age are resigning. Add to that the number that have been PIP forced out and we won’t have anyone in their 40 year age left. I guess people have realized the promise of the pension is no longer real. I for one have seen too many people forced out after decades of high assessments to believe they’re isn’t a real effort to force people out before they can retire at 55.

If you aren’t close to 55 good luck ever reaching retirement.

I recall seeing a post on this forum a while back where there was a government website that listed all the positions that ExxonMobil has had to pay the $100K visa fee for that were posted and the salaries for those positions. Does anyone have that link? One of the positions I recall was in EMTECH which had a salary of $500K without the visa fee. How is it that the company thinks it is saving money on these positions by filling them with TC expats? Is it because they don't have to pay their benefits or US 401K and pensions? Could someone shed some light on how that all works?

A strong early retirement offer from Verizon can be the foundation for a secure future—almost like building your own retirement “empire.” The key is preparation: know your pension value, health benefits, and savings runway before the offer lands. A good offer combined with early planning can turn a stressful decision into a life-changing opportunity.

Very clear the company will do away with the pension soon. Plan accordingly.

So many people in their late 40-s like me were given poor rankings this year. Clear message they do not want us anymore and don’t want to pay pensions. They may get their wish.

It is also worth considering the possibility of an involuntary exit in your calculus of exit math and taking a new job. I was within 5 years of full pension when I got the surprise news. About two years earlier I did the math and turned down an outside opportunity because I thought the risk was non-existent. That was after negotiating the gap as small as possible. Companies change, leaders change, you aren’t in full control. Be realistic. The trajectory of Exxon is clear. Act accordingly.

Is there any truth to this rumor?

Why are directors getting axed? I thought hubs were safe. Why are they surprising folks? Did T target all pensioners or did they surplus non-pensioners too?

For pension? I'd like to cash out and invest.

John can you please tell us why the pensions rarely see an increase. Social security receives increases, teachers pensions and many others get good increases but no not with you John. You line your pockets while not giving a dam about anyone else. Your’e a washed up low value suit that has added absolutely NO value to the company. Your’e ego sickens those around you. You don’t even realize your’e not needed. Things will change for the better as soon as you are gone you goon!