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

    I would have an attorney write a letter stating they will have to absorb their error and this is causing you emotional strain/pain. Furthermore, it is a multi-billion dollar company so the actuary, accountant, etc. whoever should be held accountable.
     

  2. Anonymous

    Anonymous Guest

    Just received a buyout offer. I tried to compute my lump sum but the amount I kept coming up with seemed very high ($600,000+). I was separated in 2008, my age is 49, worked for the company for 17 years, no beneficiaries, my pension is single life at $2975/month. Is it possible to have a buyout offer that high?
     
  3. Anonymous

    Anonymous Guest

    Those numbers do not come close for a 17 year employee. Cut that in half
     
  4. Anonymous

    Anonymous Guest

    I was separated in 2007, 55, 17 yrs. lump was 260000, 2865/mo. Yours is either high, or mine was low. With the monthly about the same, I think you calculated your lump incorrectly
     
  5. Anonymous

    Anonymous Guest

    What's the formula$
     
  6. Anonymous

    Anonymous Guest

    17 yrs with Pfizer
    44 yrs old.
    Monthly pmt is 2680 beginning in 2036.

    I received my lump sum offer yesterday and it was $498,218

    Hope that helps. I will be taking it.

    Best of luck to everyone.
     
  7. Anonymous

    Anonymous Guest

    For those who have received their packages:

    1) Was a payout date provided?
    2) How closely does the monthly and lump sum amounts match what's listed on the Pfizer Fidelity pension modeling website?
     
  8. Anonymous

    Anonymous Guest

    My election period is from July 15 - August 21.

    Today is July 15.

    I have not received my package with my numbers, and I don't see it online unless I'm looking in the wrong place.

    Anybody else not yet receive their final numbers? Can I get this info online? Where?
     
  9. Anonymous

    Anonymous Guest

    #108 again:

    The flier I received talks of a Pfizer Lump Sum Election Website that is available starting today. Yet, it doesn't give the web address of that website.

    Would somebody please provide it? Thanks.
     
  10. Anonymous

    Anonymous Guest

    https://www.pfizer.retirementelection.com/Security/LogIn
     
  11. Anonymous

    Anonymous Guest

    Worked 10 yrs
    Separated at 40 yrs
    Monthly $1131
    Lump $72,000.

    Its pathetic!
     
  12. Anonymous

    Anonymous Guest

    Thank you!
     
  13. Anonymous

    Anonymous Guest

    Here's what I find confusing...

    At the fidelity site my pension is shown with a dollar amount and age 65 retirement amount based on SINGLE LIFE ANNUITY.

    The package I received today is showing an amount available for lump sum or a "start payments now" monthly number...but both of these amounts are based on a 50% JOINT AND SURVIVOR amounts.

    Bottom line if they figured my lump sum on the SINGLE LIFE ANNUITY basis I would receive approx. $45,000 more!
     
  14. Anonymous

    Anonymous Guest

    Why are you complaining about it here? It doesn't make sense.
     
  15. Anonymous

    Anonymous Guest

    Take money and invest! It's not all about you!!! If you have kids then you might actually leave them something.
     
  16. Anonymous

    Anonymous Guest

    Why would you take a fixed amount per month that would be worth less with inflation over the years when you could take the lump sum and ride your investment that will be influenced by inflation.

    $3,000 per month in 2 decades will feel like $1500

    $500,000 lump sum invested today would worth $800,000 in twenty years. You get the option to do with it what you like instead of Pfizer investing your money in HOPES they can cover pension in 20 years.. Remember the Car industry said we can't pay pensions but guess what, they are still in business and having their best year ever. Don't risk that Pfizer (after the government beats up Pfizer over next 20 years) still will make your $3000 per month payment
     
  17. Anonymous

    Anonymous Guest

    to the last post -

    Because anyone getting a 500K lump is probably of the age that they don't have 20 years to invest before they start to need that $ - (or have to start withdrawals due to RMDs).

    Not to mention that per your calculations - $800K in 20 years or so will be the equivalent of 400K today.

    This is more complicated than you suggest and hopefully no one is making their decision off of CP.
     
  18. Anonymous

    Anonymous Guest

    Anyone doing this should talk to a person at Fidelity. Call the number and they will transfer you to a person that can answer all of these questions. I sat down today at one of my local branches and made a very sound decision. There are kernels of truth in this thread but it is 95% B.S.
     
  19. Anonymous

    Anonymous Guest

    Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos to order, confusion to clarity. It can turn a meal into a feast, a house into a home, a stranger into a friend.
     
  20. Anonymous

    Anonymous Guest

    Surely for your pathetic ilk and kin!