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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
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<p>[QUOTE="Anonymous, post: 4311524"]I've been retired for about ten years now from AZ sales. I was given no choice then, with only the newer employees allowed the lump sum optopn. I and others fought AZ over this, but obviously and venomously were refused the option. I took the maximum anuity, as my wife was an executive of a major financial firm and was well covered should anything happen to me. Nothing has happened, I am quite well, and have received approximately $600,000 from from my pension fund. It has worked out pretty good so far. I've been fortunate.</p><p><br /></p><p>However, the situation has changed, and all of you about to retire can take the lump sum option. I strongly urge you to do just that. AZ has become a company that can't be trusted to do just about anything that they can profit by even if it means punishing their employees. Just as American Airlines has just declared a technical bankruptcy in order to break their union and reduce their pension pay-outs, AZ could easily do the same (even without the union)....and who would doubt that they would not. Trusting AZ is not a good or a smart thing.</p><p><br /></p><p>Take that lump sum and run with it. Break that AZ bond once and for all, before they do it, anyways. Their health insurance plan for the retirees is terrible, and becomes fairly useless when Medicare takes over. Use it while you can, but don't expect that big lifetime $25,000 to last too long. Also, make sure you put that lump sum money in a IRA ASAP. It's your money and your future....be carefull out there.</p><p><br /></p><p>Good luck to all of you retiree newbies and to those of you who continue to work in another venue. It's great out here, away from the trivails of AZ...forever.[/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 4311524"]I've been retired for about ten years now from AZ sales. I was given no choice then, with only the newer employees allowed the lump sum optopn. I and others fought AZ over this, but obviously and venomously were refused the option. I took the maximum anuity, as my wife was an executive of a major financial firm and was well covered should anything happen to me. Nothing has happened, I am quite well, and have received approximately $600,000 from from my pension fund. It has worked out pretty good so far. I've been fortunate. However, the situation has changed, and all of you about to retire can take the lump sum option. I strongly urge you to do just that. AZ has become a company that can't be trusted to do just about anything that they can profit by even if it means punishing their employees. Just as American Airlines has just declared a technical bankruptcy in order to break their union and reduce their pension pay-outs, AZ could easily do the same (even without the union)....and who would doubt that they would not. Trusting AZ is not a good or a smart thing. Take that lump sum and run with it. Break that AZ bond once and for all, before they do it, anyways. Their health insurance plan for the retirees is terrible, and becomes fairly useless when Medicare takes over. Use it while you can, but don't expect that big lifetime $25,000 to last too long. Also, make sure you put that lump sum money in a IRA ASAP. It's your money and your future....be carefull out there. Good luck to all of you retiree newbies and to those of you who continue to work in another venue. It's great out here, away from the trivails of AZ...forever.[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Lost Civilizations
>
Stuart Pharmaceuticals
>
pensions
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Lost Civilizations
>
Stuart Pharmaceuticals
>
pensions
>