Pension

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anonymous

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Curious if our years of experience will carry over into the new pension plan. Or at a minimum will wait will we be able to start building time from where we are currently since our 401(k) will go down from 8% to 5%. Thanks so much
 




Will my service at Allergan be considered by AbbVie as part of this transaction? •

AbbVie will recognize Allergan employees’ length of employment for purposes of eligibility, vesting and level of benefits under their benefit plans (e.g., vacation, 401(k), active health and welfare, etc.) providing benefits to Allergan employees. This would not apply to (1) any AbbVie defined benefit pension plan, (2) the level of benefits (including any employer subsidy) provided under any AbbVie retiree medical plan or post-termination health or welfare benefit plan, (3) any benefit plan that is frozen or for which participation is limited to a grandfathered population or (4) cash- or equity-based compensation arrangements, subject to limited exceptions. Service will not be credited if it would result in a duplication of benefits. Service will only be credited to the extent such service is credited for similarly situated AbbVie employees.
 








I should probably receive the question to ask Allergan and joining Abbvie . What will our benefits be moving forward will we participate intervention plan starting at day one. Or will we only get 5% match store 401(k). Thanks
 




anonymous said:
I should probably receive the question to ask Allergan and joining Abbvie . What will our benefits be moving forward will we participate intervention plan starting at day one. Or will we only get 5% match store 401(k). Thanks
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The current Abbvie 401K program requires you to contribute 2% and Abbvie matches it with an additional 5%. You can also choose to deduct additional 401K funds, I think the max is 10% or 12%, but no matching is included.
 




Yes obviously everyone joining from Allergan is hoping there will be something on top of the 5%. Since in the past we’ve gotten between eight and 12% match from Allergan. Hoping we will be able to join the pension plan even if we start at zero. Thanks
 












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