Pension benefit lump sum

Discussion in 'Pfizer' started by Anonymous, Aug 22, 2014 at 9:28 AM.

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  1. anonymous

    anonymous Guest

    There was nothing to figure out though....it was all clearly stated on the opening page of the buyout offer on the pfizer.retirementbenefit.....etc website. How do people screw that up?? There wasn't any calculations to do
     

  2. anonymous

    anonymous Guest

    You take the money and run....easy decision.

    For one, the pension is free money that the company gave you. They had no obligation to do so, especially since they matched well on the 401K.

    Secondly, who knows if Pfizer is going to be around by the time you retire. The chances are that they may, but are you willing to bet your pension on it? There are a lot of companies that looked solid in their day (ie: Kodak, Pan Am, GM, etc.) only to crash and burn and default on their pension obligations. Remove the risk, take the money and invest in a safe IRA that pays out 7 to 8 percent.
     
  3. anonymous

    anonymous Guest

    Too late! I'm a betting gal. I kept the money with Pfizer.
     
  4. anonymous

    anonymous Guest

    Life is a gamble. As Dirty Harry asked, "Are you feeling lucky?" In the end, the doctors and the undertakers will get it all anyway.
    I just lost a great friend. He had it all, great wife, family, life, fat pension, etc. cancer got him at 68. I'm enjoying my money, giving it to my kids and grandkids and just don't give a shit about the stock market, thieving financial advisors, or Pfizer. I'll be fine.
    Money is to spend and enjoy. When it's gone, there's welfare, Medicaid, food stamps, etc. all the goodies 47% of, legal or illegal citizens receive At 80+ we've all got one foot in the grave and the other on a banana peel. Time to just roll the dice and say WTF.
     
  5. anonymous

    anonymous Guest

    Severed in 2009, 25 yrs, DM. 50 years old, started my annuity of $3,719 net/month. I think my annuity was around $600,000. My severance went into a fund and I have a healthy 401k. Picked up another gig paying more and happy.

    I will say Fidelity never could give me accurate info, changed with every question and every person. Pfizer still can't figure out my health insurance premiums unless I decide to take the it, then I guess I just get the bill.

    Pfizer's ability to help severed, retired employees is completely and utterly crazy. I would really question anything Fidelity is handling for them. These people are completely ignorant due to legacy companies. Should cut and dried answers, Pfizer is responsible to leaving their previous employees stranded. I would never Fidelity!
     
  6. anonymous

    anonymous Guest

    The answer to every question is... It depends.

    I'm in my 50's. My lump sum paid off my mortgage. My taxes are manageable. Spouse has a great job and pension. I'm now planning on working on something I enjoy, not necessarily what I have to do. Life is sweet.