I can't imagine that Truist can offer the same Pension benefit that was offered to BB&T employees, for very long. That is one hell of a liability and it just doubled in size.
Pensions are nice but they are a 'hold over' from a different time and in the 21st century, disappear overnight. Any one hear anything about this?
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I suspect you are correct. King Kelly will do away with it before Mr. Rogers takes over so the new guy doesn’t look the bad guy. Same for the salary corrections or “leveling” that will come later this year. Look out for this if you are a former BB&T associate. By the way, associates or teammates, which will be the new title for us who remain?
@gcrv+1340HVum - Not 'advocating'. Merely wondering when this will end because data says, it will. Just like fully paid medical benefits, these go away: https://www.cnn.com/2019/03/20/economy/lump-sum-pensions-retirement/index.html
You’re insane if you advocate for the pension plan going away
#SMDH
@dqzl+1340HVum - Assuming this 'herd thinning' happens, I guess it could survive. Just not sure why it they would. Pensions are legacy of an era gone by. No forward-looking company would do it.
You guys are forgetting to factor in the future layoffs. 50%BB&T + 50%ST -42%layoffs = 58% an 8% increase. very sustainable. But it is still going to go away.
Its unsustainable with 60K employees. The Pension Plan will go away. In many cases where pensions disappear, the company gives you a % of what they have paid in and drop that in a 401K for you.