Pension

[anonymous]

Any word? These should be safe I would hope.

Anyone know if you can get paid out early? Before the scum lawyers and Sackler offspring come sniffing around for this loot...

 

[anonymous]

Don't freak about the pension. It is funded as the statements we used to get will testify to. If you're 55 you can retire and take a lump sum buyout or collect a monthly payout. Or you can wait until you're 65, in which case you'll get more either in one lump sum or monthly.
It is a process however, and it takes 3-4 weeks for the actuaries to send you the numbers.
We worked for good people at a good company. They funded the pension. I'm sure a torrent of haters will follow this post with their petty vulgarities. You can believe them if you want, but I just went through the process. The money is well cared for. Thank you benefits dept. You were professional as usual. You probably know who I am.
If you had the 401k w/out pension, you can roll the $ into another 401k in another company, or you can take the total and roll it into an individual IRA that you can collect at 62. Fidelity made it easy. (Past performance does not guarantee future results. The statements herein do not represent those of ownership…(sorry, had to do that. Hey, smile people. It's gonna be alright. You're gonna be fine)

 

[anonymous]

Thank you, this was very helpful info!

 

[anonymous]

All pensions are backed up by the Pension Benefit Guarantee Corporation of America, funded or not and they get paid 100% of the time. Only way they wouldn’t would be if the market completely collapsed and the PBGC couldn’t pay all of them at once. They’re also a liability on a company’s balance sheet so lawyers can’t go after them. They’re yours.

 

[anonymous]

If Purdue were to file bankruptcy PGBC would take over and you would get your monthly pension. However if you are not yet 55 and they file bankruptcy you cannot get a lump sum you can only get the monthly payment.

 

[anonymous]

Thanks , useful information. One of the more informative threads on this site.

 

[anonymous]

If Purdue were to file bankruptcy PGBC would take over and you would get your monthly pension. However if you are not yet 55 and they file bankruptcy you cannot get a lump sum you can only get the monthly payment.

BS you can get lump.

 

[anonymous]

Sacklers have enough bad publicity without screwing past employees. They are billionaires and can afford the puny pension.

 

[anonymous]

BS you can get lump.

I have been told by Purdue that if the pension gets turned over to PBGC a lump sum is not possible only a monthly amount. If you have other info please tell me from where you are getting it because this is an important issue to any of us who have a pension.

 

[anonymous]

I have been told by Purdue that if the pension gets turned over to PBGC a lump sum is not possible only a monthly amount. If you have other info please tell me from where you are getting it because this is an important issue to any of us who have a pension.

Who told you this fiction? (For the record, I think you don't have a pension and are stirring it up)

 

[anonymous]

The real question! Is it insured at 100%...if it defaults to government insu

 

[anonymous]

The real question! Is it insured at 100%...if it defaults to government insu

Have you ever heard of this magical thing called "Google"?

 

[anonymous]

Who told you this fiction? (For the record, I think you don't have a pension and are stirring it up)

I have that in an email from Lynn Kusinski in HR. So it’s straight from the source!

 

[anonymous]

“My understanding is that lumps sum payments over 5k would not be possible if the pension is turned over to PBGC. Your only option would be a monthly benefit.
Lynn