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Youngsters Retirement
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<blockquote data-quote="FracusBrown" data-source="post: 786133" data-attributes="member: 29360"><p>I think you are mistaken. My understanding of the pension plan for new management people is that there is none. The only form of retirement they receive is the 401k match. </p><p> </p><p>On the positive side they get to take the entire "none" with them when they leave. It's portable!</p><p> </p><p>They also get to take their 401k if they were smart enough to contribute an amount at least equal to the match. In most cases they take a pay cut the first few years of management if they were a full time hourly, so they probably don't contribute. </p><p> </p><p>If they contributed nothing to the 401k, they will leave with what they started with - "nothing" <strong><em>and</em></strong> "none."</p></blockquote><p></p>
[QUOTE="FracusBrown, post: 786133, member: 29360"] I think you are mistaken. My understanding of the pension plan for new management people is that there is none. The only form of retirement they receive is the 401k match. On the positive side they get to take the entire "none" with them when they leave. It's portable! They also get to take their 401k if they were smart enough to contribute an amount at least equal to the match. In most cases they take a pay cut the first few years of management if they were a full time hourly, so they probably don't contribute. If they contributed nothing to the 401k, they will leave with what they started with - "nothing" [B][I]and[/I][/B] "none." [/QUOTE]
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