Real Early lump sum offers

Discussion in 'Pfizer' started by Anonymous, Jul 12, 2015 at 5:21 PM.

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  1. anonymous

    anonymous Guest

    How do you qualify for this lump sum offer?
     

  2. anonymous

    anonymous Guest

    Blow your DM!
     
  3. anonymous

    anonymous Guest

    If you have a QDRO attached to your pension, you are not being offered the pension buy out.
     
  4. anonymous

    anonymous Guest

    Worked with company from 1992 - 95, Rejoined in 99. Left in early 2014. Pension estimate is $5667/month - Lump Sum 480,000. Does not include the 'non-qualified' plan where I have another $48K lump sum that pays out at age 55. I have my financial planner modeling options that lock in a defined 'pension' at age 60 and permit transfer of the asset to my family in the event of my death. Bottom line is that the lump sum and estimated pension should be relatively equal in value - the only things to consider are whether or not you believe you can obtain similar certainty to the Pfizer pension without taking on too much risk.
     
  5. anonymous

    anonymous Guest

    years of service has nothing at all to do with the lump sum calculation. It is a straight NPV calculation based on the total value of the future pension over your estimated lifetime.
     
  6. anonymous

    anonymous Guest

    Poster 84 is full of shit. 5600/ month and 600k for 18 yrs tenure, no way. Why put this crap out? Your advisor must be a moron, too
     
  7. anonymous

    anonymous Guest

    Yes, I agree the $5,600 post is about 30 years; good luck on that these days with these management types.
     
  8. anonymous

    anonymous Guest

    I have been contacted by Fidelity once, I contacted Fidelity to go to one of the local Pfizer information meetings, and I spoke with a Fidelity representative at the incorrect location where the previous Fidelity rep told me to go. Here is what I learned:
    1. The first Fidelity representative told me incorrect information about my plan. I told him this, he looked it up, apologized to me, thanked me for teaching him something, then hung up.
    2. The second Fidelity representative sent me to the wrong location. However, one of the representatives in the office that I went to offered to help.
    3. I met with him, and the representative told me that what I wanted to do could not be done. Unbeknownst to him, another Fidelity representative was already calling Pfizer about my questions and concerns. That representative interrupted our meeting and said that I was correct. Then the Fidelity representative that I was with said that there was little or no chance that they could do as well as I had planned and the meeting ended. (Please note: only the Fidelity representative that took the time to call Pfizer offered a legitimate service to me.)

    Long story short: Fidelity DOES NOT KNOW the basics of all our plans and is there to sell you their products. Be very careful, do your own research, and KNOW YOUR PLAN. My lump sum offer was less than one third of what I had over the years of payments to myself and my beneficiary. There is little or no way that could be made up by a financial adviser, especially one that does not know the rules associated with each plan.
     
  9. anonymous

    anonymous Guest

    Very frightening to say the least; people's hard-earned money.
     
  10. anonymous

    anonymous Guest


    you didn't earn squat you Rush Limbo hypocrite - you didn't earn anything. Not a cent of a pension is from you simpleton! 100% of the pension is from the employer. That's why they are being eliminated - they cost too much. Employers would rather have you save your "hard earned money" than give you free money in a pension. the only free you get now is the 401k match.

    Damn you dittos heads are stupid. Do you get that the Republican's are driving this? Open your eyes slack brain! The whole supply side, let the market figure it out, trickle down kinda hurts when they are pulling you off the corporate teat before you are ready.

    BWWWAAAAHHHAAAA.

    hard earned money...that is rich in irony. that's ok, keep voting for the clowns who are destroying education, our infrastructure, VA benefits, etc just because you can't get outside the Fox news bubble.
     
  11. anonymous

    anonymous Guest

    You're wrong on all levels. Your financial planner is a fraud or incompetent, or both. Lump sum will never be equal to pension for 20+ years. If it was, why would anyone work beyond 50? Give me 25 yrs of my pension now. No, I'd rather work for this wonderful company foe another 15 yrs. you are one stupid human being. I have some great swampland in SC I'd like to sell you.
     
  12. anonymous

    anonymous Guest

    You got screwed, 18 yrs. 12500/mo, 2,567000 lump.
     
  13. anonymous

    anonymous Guest

    You got screwed. 18 yrs. I got 12000/mo, 2,890,000 lump. No advisor, and don't want one.
    You were definitely suckered.
     
  14. anonymous

    anonymous Guest

    Try $1,200 a month for $289,000 or whatever. 18 years is nothing for lump sum/pension/work experience, etc. Learn it and live with it as that is how it is.
     
  15. anonymous

    anonymous Guest

    FU jerkface!
     
  16. anonymous

    anonymous Guest

    Post #93, dream on-you are full of sh__! I was a sr DM at the top of the pay scale, 25 years, p/out at 65 ~ $6700/month, lump sum ~ $615,000. Go away you troll-poster #93!
     
  17. anonymous

    anonymous Guest

    You got screwed too. We're you with Pfizer or were you acquired?
     
  18. anonymous

    anonymous Guest

    Actually, its absolutely accurate. My base salary when I left the company was 235K/year - with a bonus target of 25% ($58K). While I started in sales, I ended as a Senior Director at HQ in NY leading marketing, strategy and innovation teams. Problem in the field is that unless you are an RM or better yet a VP - your base grows pretty modestly - even with strong tenure. There's a long term cost associated with staying put.
     
  19. anonymous

    anonymous Guest

    My offer is 1,850/mo or 108,000 roll over to an IRA. I meet with a financial advisor on Friday. I'm only 44 and this is a tough decision. I wish I had a crystal ball to see how long I will live! I'd really love to hear from more people about their decisions...
     
  20. anonymous

    anonymous Guest

    Guys please do your homework yourself and educate yourself....you are entering shark filled waters with any "financial" guy/company ... Remember they are "REAL" sales people first and foremost..not pharma sales but 100% commish driven hungry eating sales people..think used car lot, they just have nicer offices (paid for by you)...even if you get lucky and find a decent financial SALES guy you'll be paying him minimum 1% for his advise (multiply that out over the life of them holding your money) PLUS any additional product selling commish PLUS expense fees of the actual financial product. this adds up to minimum 3-5% (say $15,000 commish and expenses for taking on that great lump sum payout of $300K and letting the sales guy/gal 'help' you make a good financial decision)...if you're too lazy to read all that material the company's been sending and doing some simple research then maybe you should just invest in a nice whole life policy and make a financial guys day.