Congress could soon allow pension plans to cut benefits for current retirees

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Anonymous said:
AZ rep here who has an absolute understanding of defined benefit pension plans. Yes, as interest rates rise, the amount of a lump sum payout goes down. Interest rates will one day creep back up. if you are able, take your lump sum now, but ALWAYS QUESTION THE CALCULATED AMOUNT! Quite often it is wrong!
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AZ rep? You cut too?
 




Anonymous said:
How would you question the calculated amount? The website provides an estimated payout of the pension, why would one expect it to be incorrect?
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AZ rep here. Your lump sum amount is based on all the salary you have made through the years. Their calculations are based on that. So you have to depend on your company to provide them with accurate salary data. Ask them to forward any and all documents showing how the lump sum was calculated. They should also do a 6 month look back to make sure they computed the right amount. Also read your Summary Plan Description document on your pension plan.
 








Anonymous said:
AZ rep here. No, I "self-identified". What that means is that I volunteered to be laid off. We were given the option to self-identify. This was 01/2012. So,I received 2 weeks for every year in severance and retired a few months later. A very sweet deal.
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Here at Merck, oldies like you would get the shaft. They give a rats ass about identity they cut some folks off from hard earned retirement bennies as they inched toward the finish line....

Not very sweet, actually incredibly sour.
 








Thankfully, the big bosses hired all their family members and friends so they won't gut the pension right now. Five years, yes. Merck pension is slightly over funded but if laws change you can bet they will reduce the payouts.

They don't pay federal taxes, why would they pay pension obligations?
 




If you are not 55 by 2019, you won't get much of a pension anyway. 2020 cash balance only. I wonder if the few poor slobs hired after Jan 1 2013 were told there is no more pension. Nothing! Go work at Google!
 




Anonymous said:
Thankfully, the big bosses hired all their family members and friends so they won't gut the pension right now. Five years, yes. Merck pension is slightly over funded but if laws change you can bet they will reduce the payouts.

They don't pay federal taxes, why would they pay pension obligations?
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Keep things in perspective, a full fifty percent of tax payers do not pay federal taxes! Sad scenario!
 








Anonymous said:
Problem with the lump sum is if the interest rates go up, you are screwed. Lump sum goes down and you are stuck with a shaky Inuits.
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Lump sums are only viable when invested properly.
After taxes, there's only a fraction of the "lump" left.

Anyone playing the stock market with their retirement nest egg is a gambler and/or idiot. And interest rates on FDIC-insured CDs tanked after the meltdown and are still rotten.

So it's a lucky few lump summers who weathered the 2008-2010 econ collapse without taking a big hit. Who in their retirement years wants to sweat a major financial meltdown in hopes that tomorrow is sunny and bright?
 




Anonymous said:
If you are not 55 by 2019, you won't get much of a pension anyway. 2020 cash balance only. I wonder if the few poor slobs hired after Jan 1 2013 were told there is no more pension. Nothing! Go work at Google!
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Agreed. We are in the 'transition' phase now until dec 2019. Anyone grandfathered under the old calculation needs to get out by then. After that, nothing.
 




Anonymous said:
Keep things in perspective, a full fifty percent of tax payers do not pay federal taxes! Sad scenario!
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Besides no taxes, these lazy uneducated dregs of society get food stamps and other government freebies all payed by tax dollars They all are Obama supporters
F'k Rev Al, F'k Jesse, F'k Holder ! Wake Up
 




Anonymous said:
Besides no taxes, these lazy uneducated dregs of society get food stamps and other government freebies all payed by tax dollars They all are Obama supporters
F'k Rev Al, F'k Jesse, F'k Holder ! Wake Up
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You are a putz. For crying out loud~~~stop watching Faux News.

http://www2.ucsc.edu/whorulesamerica/power/wealth.html

"In the United States, wealth is highly concentrated in a relatively few hands. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers)"


I know you don't like paying taxes and you don't like that there are people that are living off your taxes. But, the majority of them are the RICH not the poor. Take a look at how much in taxes the corporations paid~~maybe it is time to tax the rich and corporations better?


But, no~~they're people too. And besides, they're the job creators.
 




Anonymous said:
You are a putz. For crying out loud~~~stop watching Faux News.

http://www2.ucsc.edu/whorulesamerica/power/wealth.html

"In the United States, wealth is highly concentrated in a relatively few hands. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers)"


I know you don't like paying taxes and you don't like that there are people that are living off your taxes. But, the majority of them are the RICH not the poor. Take a look at how much in taxes the corporations paid~~maybe it is time to tax the rich and corporations better?


But, no~~they're people too. And besides, they're the job creators.
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You're one of dregs, and it's Fox not faux you uneducated moron Get a job '
 




Anonymous said:
You're one of dregs, and it's Fox not faux you uneducated moron Get a job '
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Now we know why you still watch them, you can't understand sarcasm.

I just don't buy into the crap you or the Republicans are selling about the under class stealing our tax dollars.

It is the rich and corporations that have taken the money that the middle class has paid. All for the illusion that it is the poor's fault.

Follow the money~~just follow the money.

BTW: you (and most of us working here) have more in common with the poor than we do with the rich. Most people saw that when the Great Recession hit.

And, Thanks, I already have a job.
 




Sure you do pal, if bumming and trolling is considered work then yes you have a job
Keep copying and pasting facts , because you know nothing yourself, just what you read !
Now get a job and give up them food stamps
 








Anonymous said:
Besides no taxes, these lazy uneducated dregs of society get food stamps and other government freebies all payed by tax dollars They all are Obama supporters
F'k Rev Al, F'k Jesse, F'k Holder ! Wake Up
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I had my awakening long ago. As demonstrated by the progressive / communist segments of the population striving to destroy the US, it is paramount that the producers of wealth go on the offensive. We regained control of congress and now we must overturn the left in all it's forms.
 












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