Pension Plan Changes Announced

Wow, I feel your bitterness , but it's not my fault...I have 32 years with this company and 16 pinnacles, SLS etc. I love BMS and the work........My pention (annuity) I have been looking at for years ....just dropped 25%.........I am sick...I am going to work an extra 2 years............start saving now,it is a brave new world...by the way I take exception to your rudeness, I am over 55 and I have won 3 pinnacles in the last 5 years......a pasture you will never know..you have my sympathy, you are pathetic.

 

You sound like a legend

 

ya well up yours!!!. Why don't you just stare at yourself in the mirror and make love to yourself!! it's not fair that as a 20 something I will not have the long cushy career in pharma that you deadweights got in your lifetime. Why do you guys get the long cushy career and the big pension? I resent you a$$holes and I hope you enjoy your prune juice and stool softeners!

 

Cheese with that whine? I'll trade you my pention to be a 20 something.. My advice....find another career....this job used to have dignity....it is a fool's parade now.

 

People open your eyes! Can't you see the deception. They say that they beefed the 401K matching to soften the pension blow, buy READ THE FINE PRINT. You don't actually get your first 3%-8% additional matching amounts put into your 401k for a year. The first distribution is January 2011!!!!! There will be many reps attriting out and getting laid off before this date. The company knows this, which is why the disbursement takes a year!!! They know they're not gonna have to pay a lot of it because you have to be an employee at the time of disbursement to get the extra money!!.....It's all a big scam and they "RESERVE THE RIGHT TO CHANGE THE POLICY ANY TIME"....give me a break

 

Unfortunately I have to work many years until I can retire but I hope that I will get a pension some time. I actually have a 401K private pension plan and hope this will secure my pension. Generally I am of the opinion that the politicians should do something about the pension system in order that people must not be afraid of retiring.

 

SA treat their people like crap. I have two friends that were pushed out. They dont like paying severance packages, so they selecet reps they can push out and avoid paying $$$$.

 

Merck still offers a pension, but for how long?

 

What percentage of current employees will be around long enough to worry about a pension?

 

Earlier this year we were sent info. that anyone who is vested and leaves BMS can pull their money. Should we be impacted with layoff, better to have what's ours and roll over to IRA and let it grow cuz there's no guarantee the pension plan will be viable for anyone to collect at retirement age.

 

I don't think last post is accurate. If you are say 49 years old and leave BMS and were fully vested and I don't think you have the option of getting your full pension rolled into an IRA. You can do that with 401k, but not pension unless you are at retirement age and take the lump sum.

 

As far as I know, they have not rescinded the Lump Sum option.

 

Anyone who is vested and under age 55 can roll over their pension plan to an IRA, of course, there'll be some reductions. Check Fidelity website.

 

This company has a long history of stock manipulations as well as screwing over anyone who isn't in upper management. Those in upper management get a golden parachute the rest get a lead weight.

 

Would someone please find out exactly what pension and health benefits are being paid to union employees with contracts that make the products the company sells. Some of us are being treated like second class citizens.

 

You don't know what you're talking about! Astra Zeneca has NO pension. I know because after I took mine... They stopped pensions... Years ago