Legacy Merck - Will you leave soon due to Pension?

[anonymous]

Please start a conversation. Is this a serious issue we should all be thinking about? Unless you are taking a monthly annuity? Serious replies from informed Merck legacy tenured reps.

 

[anonymous]

The sweet spot was December 2019
If you were 55 or older. Now with interest rate adjustments every quarter it may pay to get out sooner.

 

[anonymous]

This, I believe, is very real - the Merck Exodus is beginning. Precisely because the pension formula, going forward, will no longer weight the years of service in the same way it has in the past, and also as the OP states, rising interest rates dramatically cut the value of lump sum payments.

HR may think this will be a great opportunity to reduce salary and benefits maintained on the books, which is potentially true, but this time I believe the magnitude of the impact has not been accounted for - and training of new employees is unfortunately, not a strength.

In any case - get out while the getting is good!....

 

[anonymous]

Bad timing to switch over pension to cash balance. Who would have imagined a labor shortage. People are rapidly leaving the work force all over the country. Screwing pension up and taking away medical subsidy will make things worse for Merck.

The people who made the decision to change the pension back in 2012 are long gone from Merck.

 

[anonymous]

There is no labor shortage for pharma reps.

Follow the money rocket and good selling.

 

[anonymous]

At least you have a pension. Most companies no longer offer it.

Nobody wants to commit 30 years to any one place anyway to make a pension worthwhile.

 

[anonymous]

SSF site employees were given taco Tuesday and unlimited ice water in exchange for pension

 

[anonymous]

counting down the days

 

[anonymous]

Seeing as how there are only about twenty Merck legacy reps remaining, this shouldn't become much of a conversation.