State Farm eliminated pension and look at the stock market and the values of average 401Ks tanking. The newbies they are forcing the Kool AID to will never be able to retire. The results of d-mbing Merica.
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I need the pension to last another 25 years or so. Retiring in 5 years and need it for hopefully 20 more beyond that.
@2eei. Interesting none can reply to your fact comment.
Depending on the amount of your pension some or all of it is government guaranteed. The execs have the most to worry about since only a small portion of their pension is protected.
AND STOCKS FALL TO THE WORST YEAR SINCE 2008! NAH! NO WAY THIS COULD BE UNDER THE CORRUPT COMMANDER AND CHIEF WE HAVE?🤬🤣
And listen to all the tenured digital and ET employees gloat about their freakishly odd Anaya and PO and fake roles and clicking that “retirement” button to get their big own suit checks a month. Folks making. Way more than they should calling it work. The show goes on. Like they are indispensable and get paid way more than they should to do little of value.
Not exactly accurate. Everyone was worried their EXISTING pension was going away. After all if you were not an employee you didn’t even know about the pension. Also the pension is NOT in the market. Federal regulations require designated reserves. And those reserves are in some of the most conservative investments, not stocks. Better stick to things you know.
To be fair the same thing was said about access to the pension...."it will never go away its why people work here" or and then poof not offered anymore. I remember onboarding long ago it was touted as proof the company cares about its employees. Either way its a thing of the past, and the pool of pensioners still working is shrinking.
Also keep in mind the pension is in the market, just like our "deep in the red" 401k. Dont think your pension is safe.
Oh no another pension freeze rumor-just like in 2021, 2020, 2019, 2018, 201& 2016….Sf has enough capital to have the worst year in history for the next 20 years in a row.
And who was president of the US in 2016? Another sh*t show just like we and SF have now. Clueless!
Ohhh....just wait! I know it has been the rumor before but at the end of 2023 they are going to put a freeze on the pension and start offering pension buy-outs starting in 2024! We are going to have the largest underwriting loss in the history of the company and it's not just inflation related. Remember the previous biggest loss in the history of the company also happened in 2016-2017. Quote... "State Farm’s property-casualty underwriting loss widened last year. The nation’s largest insurer reported a $6.5 billion underwriting loss in 2017, compared to $5.5 billion in 2016. So the f-cking scam artist MT and minions fleeced policyholders out of a $20 million dollar bonus in 2020 and $24.5 million in 2021. The two largest losses in the history of the company have all come under Tipsy and within 5 years of each other!!! Growth is fake, CEO is fake! Clueless!!!! They will laugh all the way to the bank and retire....leaving you and me holding the disaster to clean up or go under! Let the fire sell begin! Ohhh....NOOT is back! Imagine that......
The result is constant turnover for hard to staff positions. No pension to keep you in place, your 401k is average and can be rolled over to the next company. The only advantage is the company will have to start raising wages and keep giving extra bonuses.