The REAL story on the defined pension plan changes???

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I am by no means an expert on the subject but I have paid a little attention to those near retirement that have more interest in the subject. In short, do a google search for the pension security act passed under George Bush. You will find that the accounting spread used to determine "fully funded" status has been changed to account for recent short term losses. I don't think our pension is effected by this as the company has maintained a steady cash flow into the pension for a long time. Second, and more importantly, the life expectancy tables have changed thus reducing the amount of the lump sum if you should decide to take it. I understand that the lump sum has been reduced by over 30% and possibly by as much as 50% at the time of retirement.

Look it up and get back to us.
 






That's incorrect! The main thing is they have change how the interest rate is calculated. The result is Approximately 1/2% point in interest either way. Mathematically this would NOT result in a 30% or a 50% reduction in lump sum - unless your lump is REALLY TINY!!!! - LOL.
AND if you are that worred about the size of the LUMP SUM - take one of the annuity options.....
Peopleon this site really need to do their homework before spouting off BS!
 






Anonymous said:
Does anyone have any "authentic" information on Merck's plans viz a viz the defined pension plan?
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It's time for all of the workers' to feel the pain associated with the economic times. Therefore, Merck has decided that it cannot afford to keep paying these outrageous pension amounts. Similar to the employees of the States of Wisconsin, NJ, Illionois and Ohio-there will be layoffs if you don't concede to contributing more to the pension plan, health benefits and a cut in pay.

Sorry. Anything else is just socialism.
 






Anonymous said:
It's time for all of the workers' to feel the pain associated with the economic times. Therefore, Merck has decided that it cannot afford to keep paying these outrageous pension amounts. Similar to the employees of the States of Wisconsin, NJ, Illionois and Ohio-there will be layoffs if you don't concede to contributing more to the pension plan, health benefits and a cut in pay.

Sorry. Anything else is just socialism.
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Only the Exec Team doesn't feel the pain (and you're probably a member).
 


















Anonymous said:
Only the Exec Team doesn't feel the pain (and you're probably a member).
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The quote below came from another thread. The Exec Team are crooks.

Check out the options these frauds received this month. The link is below. It's truly sickening how failure at the exec level is rewarded so handsomely here. The more reps they let go the more money they receive. I guess that corny phrase Be Well only applies to them because all is not well if you are below a band 4.



http://finance.yahoo.com/q/it?s=MRK+...r+Transactions
 






cutie222 said:
That's incorrect! The main thing is they have change how the interest rate is calculated. The result is Approximately 1/2% point in interest either way. Mathematically this would NOT result in a 30% or a 50% reduction in lump sum - unless your lump is REALLY TINY!!!! - LOL.
AND if you are that worred about the size of the LUMP SUM - take one of the annuity options.....
Peopleon this site really need to do their homework before spouting off BS!
Click to expand...

You also got a tiny one!
 






Anonymous said:
Only the Exec Team doesn't feel the pain (and you're probably a member).
Click to expand...

Like the Exec Team, the Obamas are living it up on our dime....Michelle and the girls eating ribs at an upscale Vail ski resort...how many vacations have they had in the last 12 months?...they're obviously not counting, and certainly don't care (it's not their money they are spending). It's time for these elite "do as I say, not as I do" scumbags to leave. I keep praying for impeachment, but we all know that won't happen...2012 can't come soon enough.
 






Re: The REAL story on the defined pension plan changes???
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Originally Posted by cutie222
That's incorrect! The main thing is they have change how the interest rate is calculated. The result is Approximately 1/2% point in interest either way. Mathematically this would NOT result in a 30% or a 50% reduction in lump sum - unless your lump is REALLY TINY!!!! - LOL.
AND if you are that worred about the size of the LUMP SUM - take one of the annuity options.....
Peopleon this site really need to do their homework before spouting off BS!
You also got a tiny one!

jealousy will get you nowhere......
 






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