If one is just trying to make it to retirement, I am well aware this is not the best place for that. It hasn't been for a long time now. However, it is difficult to decide to leave and start from scratch somewhere else when retirement is relatively close. I am interested in your opinion, how close to retirement is it still a good idea to look for a job change?
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Once you hit your 55th birthday, staying at NCR has no effect on your pension. You can pull full pension benefit at 62 instead of 65 even if you leave. If you are just hitting 55 today, you don't have much of a pension any, less than 1K/month. The pension stopped growing about 20 years ago and is not inflation indexed.
@4eia+1kynSkdS There are still many employees that are grandfathered I would gather. It was ditched at the beginning of the Bill Nuti era so we're talking 2005, 2006 or 2007 I believe.
I think there was a target group of employees they convinced to consolidate their pension values into their 401k for an extra match or something to that affect. Not sure exactly how that worked. Ask one of the old timers.
@@pzv+1kynSkdS
you had to have so many years in to be grandfathered in. I was 10 years in when they ditched it. Think it was for those 20 or 25 year were grandfathered.
NCR employees now a days are working for avg to less than avg money and no benefits other than 401k. Big deal. Had a good friend that worked on that 20th floor in an amazing position until he left several years ago. I was told when this new ceo and his co-conspirators first came aboard they were horrified what most employees were being paid compared to scale for this region. If you relocated to ATL from elsewhere and brought your above avg salary with you then you were or are a still a target. Like that other person said, if all your getting is that 401k then leave. There are many state, county and federal jobs offering real jobs with pensions. Example. The Federal Reserve is 4 blocks from NCR, they're hiring and offer pensions. Don't be a chump by staying at NCR and giving away your future.
I agree, I was dumped in Nov. 2018 after 44 years. I had turned 65 that summer. As other poster said, I had pension, pension plus and 401K from the early years when NCR did contribution matches that made a difference. All in all, I cashed out with about 950K plus some NCR stock from ESPP (about 5K shares). Plus started SS at 66 1/2. I was angry and mad for a year or two, but then all of the cr-p storm at NCR started and now, I am happy "as a pig in *(!t" to be gone. Do a few contract installations when and where I choose. Life is good after NCR; you just got to pull the cord and go for it.
After 35 years NCR aged me out. My new employer has "unlimited vacation" which is a big plus. Put you resume out and see what bites you get. You might find out that NCR is paying you well, or you might enjoy a 20% raise.
NCR used to be the place to be. If you got in early enough to earn the pension and pension plus plan, you retire today then great you've done well. You'll do fine along with your 401K. Pension plans are grandfathered for those employees that joined before they eliminated it. If you're an employee who's just getting the 401k then my advice is to move on now while you're young. There's plenty of government and state jobs that offer a pension plan and truthfully better benefits. The key when you retire is to have as many income streams as possible besides you social security. Staying with NCR is not going to accomplish that for you if you joined in the last 20 years, all you'll get is old and a 401k. Woooo Hoooo Truthfully get a govt job while you're still young enough.