Pension

Can anyone tell me if Management gets a pension?

[satellitedriver]

Originally Posted by jdog321123

Can anyone tell me if Management gets a pension?

Yes they do, if they work long enough to earn one.

[Cementups]

of course they do

With 30 years at 55, management gets a pension equal to approximately 45-50% of their last 5 years averege wages, not including MIP, under the plan before recent changes.

New management and management born before 1979 get a 401K style pension equl to about half of the prior plan, or approximately 25% of thier final wages.

[pretzel_man]

Originally Posted by Pension Blues

With 30 years at 55, management gets a pension equal to approximately 45-50% of their last 5 years averege wages, not including MIP, under the plan before recent changes.

New management and management born before 1979 get a 401K style pension equl to about half of the prior plan, or approximately 25% of thier final wages.

While I havn't done the math, I don't think you're accurate about the new plan.

If you've done those calculations, I'd be interested in seeing your analysis and your assumptions. For instance, what did you assume as a growth rate?

Also, since its portable and owned by the employee, how did you account for that? I would think that in many ways, that would make the new plan very attractive?

P-Man