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<blockquote data-quote="vantexan" data-source="post: 2899169" data-attributes="member: 24302"><p>Let&#039;s look at this a bit further.&nbsp; Let&#039;s say a senior manager is making $150k a year.&nbsp; He&#039;s been with the company 27 years, been a mgr/sr.mgr for 16 years.&nbsp; And let&#039;s for arguments sake say he&#039;s only been in the portable pension plan and 401k.&nbsp; He&#039;s 48, qualifies for the 8%.&nbsp; Let&#039;s say between contributions and interest his plan stands at $150k.&nbsp; So this year the company will put $12k into his account.&nbsp; Plus every quarter 1% of his balance will be paid as interest.&nbsp; So his first quarter interest is $1500.&nbsp; So with a little compounding he&#039;ll get over $6000 in interest.&nbsp; Over $18k for the year.&nbsp; See how if he works until SS retirement age at 67, possibly retiring as a director making considerably more, that his account will snowball.&nbsp; Plus he can afford to max his 401k and invest elsewhere.&nbsp; The company made sure when it went to this plan management was taken care of.&nbsp; Even an ops mgr that never moves up will do fine with this.&nbsp; All the more reason taking away the traditional plan plus holding down our pay was a major screwover for 10&#039;s of thousands of employees.</p></blockquote><p></p>

[QUOTE="vantexan, post: 2899169, member: 24302"] Let's look at this a bit further. Let's say a senior manager is making $150k a year. He's been with the company 27 years, been a mgr/sr.mgr for 16 years. And let's for arguments sake say he's only been in the portable pension plan and 401k. He's 48, qualifies for the 8%. Let's say between contributions and interest his plan stands at $150k. So this year the company will put $12k into his account. Plus every quarter 1% of his balance will be paid as interest. So his first quarter interest is $1500. So with a little compounding he'll get over $6000 in interest. Over $18k for the year. See how if he works until SS retirement age at 67, possibly retiring as a director making considerably more, that his account will snowball. Plus he can afford to max his 401k and invest elsewhere. The company made sure when it went to this plan management was taken care of. Even an ops mgr that never moves up will do fine with this. All the more reason taking away the traditional plan plus holding down our pay was a major screwover for 10's of thousands of employees. [/QUOTE]

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