Forget that idea now.
17 replies (most recent on top)
449, there's no bragging. It makes me sick that all these people are going through this. Lack of executive leadership where their poss poor decisions impact so many lives. Measurement and executive comp based on the lowest of low by cutting. I was lucky and worry about how my kids will fare in this BS way of taking away jobs from US citizens. It's killing our way of life.
I do understand your anger and, again, I was lucky. Hoping that we get leadership in DC that will clamp down on screwing good folks by allowing jobs to go elsewhere and stop the rampant wage discrimination.
Oh and my husband has 36 years, can reitre whenever he wants, thanks to his UNION.
3/2/17 i bet i get there, with a little help from my UNION!
We are not bragging and we are not assholes this is way some times the book of LIFE works.
Wow .. First of all Verizon froze pensions to their management. So shame on them if upper management execs get a handsome pension when they were never in the red and are a greedy bastard company.
And for those bragging about how they retired after 30 or 40 years...you are assholes
Retired 2015 with 40 years. Not missing anything and sad how bad things are for everyone.
Anonymous204328,
ahh, ok.
My wife is a consulting manager with Accenture, 8 years, they discontinued pensions in 2002. They match 50 percent on the 401k, it is limited to max 3 percent paid by Accenture. So If you have a 100k salary the maximum they will put in your plan is 3k. They also give you profit sharing - it goes into 401a, bila down to approx 2k per year. So, total 5k on a 100k salary.
Congrats --Gary you were lucky enough not to have the chain pulled on you.
I retired from Verizon in 2012 at age 62 after 30 years of service.
I highly recommend Ellen Schultz Retirement Heist, specially for the ignorant people who make comments such as poster 246. The reasons pensions fund are going away is they are no longer the cash cow for the executive boards . If more read the book they would realize how corporations have taken advantage of workers.
Read the book "Retirement Heist" by Ellen Schultz, a former reporter for the Wall St Journal. Pension funds were solely dedicated to pensions once upon a time, then executives lobbied the politicians to change the rules so the money could be diverted to other stuff. So now most pensions are underfunded and the soulless SOB's that caused the problem try to spin it into "greedy unions are bankrupting America". Half the population believes it, too. The puppetmasters are laughing their butts off at our stupidity.
Anonymous204246 writes "Name one company that offers pensions today..."
Here's 15:
Lockheed Martin, Johnson & Johnson, Roche Diagnostics, J M Family, Nu Star Energy, Con Ed, Verizon, Navy Federal Credit Union, Nationwide Insurance, Exxon Mobil, UPS, 3M, Bank of America, Accenture, Coca Cola...
And many, many others offer the execs very generous pension plans in the form of golden parachutes.
Remember, many pension plans in this nation were very well-funded, and set to make returns for years and years, until money was diverted.
Don't defend the abandonment of pension obligations by making silly statements. Instead, try asking, why don't other companies take a page from these 15 and start offering pensions? It's folks like you, and your twisted thinking, that aids and abets the middle class race to the bottom.
+1
Shills, posing as flag waving patriots, have convinced a lot of working class people that unions are bad and that the "job creators" will do the right thing if only we'll give them less regulations and more tax breaks. I don't see Verizon as over taxed or over regulated. Also, as thousands of workers get laid off, the suits who spent 130 billion in borrowed money to buyout the whole wireless enchilada don't seem to be feeling any personal pain from their decision, are they?. Wake up, organize, and support your fellow worker.
Name one company that offers pensions today. You'll retire if you are shareholder, so you make money that way and then retire. Since 90% of people have no shares or have pennies in share, they will get screwed
No more pensions