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Management Retirement at 59
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<blockquote data-quote="Bamboozled" data-source="post: 1188300" data-attributes="member: 46335"><p>Everyone,</p><p></p><p>Depending on your location it appears different rumors have been spread in different areas. Perhaps to test the waters in different areas as if we are mice. For instance from one area of the country I have heard there may be changes to the pension but they will be a cut off date like anyone born after 1965 will be forced to stay until 59 and it may be a graduated change 55, then 57 and then 59. However the rumors from another area say anyone born after 1960 will have to stay until 59.</p><p></p><p>Here are my questions for the educated in Law:</p><p></p><p>Can they promise someone who started say 1983 when they were 20 years old a retirement at 55 and then change it when they are 50 once they already have 30yrs in? Keep in mind someone with less years (say 20 years) but they started later in life and are now 55, they can retire with less years of service just because they are older. Isn't that age discrimination? Isn't that why the original pension cutoff was changed from "born after 1978 and promoted after 2006" was changed to just promoted after 2008? </p><p> </p><p>The problem is there are many different laws in many different states regarding this nonsense especially since Enron. I don't know what they all are I am sure somewhere there is one that is written that doesn't allow a company to promise something for an entire working life and then pull the carpet out from under them at the last stretch with complete disregard, especially when the CEO keeps getting record bonuses and record profits. </p><p></p><p>Actually they are not record profits. What they have done is taken everything from us and then placed it in the "Profit" category when all they did was steal it from the people who made it.</p><p></p><p>If anyone of importance is out there, if you want us to tighten our belt lead by example and start with yours. You cant cry poor and lavish yourselves with dividends and bonuses and expect anyone to believe it.</p></blockquote><p></p>
[QUOTE="Bamboozled, post: 1188300, member: 46335"] Everyone, Depending on your location it appears different rumors have been spread in different areas. Perhaps to test the waters in different areas as if we are mice. For instance from one area of the country I have heard there may be changes to the pension but they will be a cut off date like anyone born after 1965 will be forced to stay until 59 and it may be a graduated change 55, then 57 and then 59. However the rumors from another area say anyone born after 1960 will have to stay until 59. Here are my questions for the educated in Law: Can they promise someone who started say 1983 when they were 20 years old a retirement at 55 and then change it when they are 50 once they already have 30yrs in? Keep in mind someone with less years (say 20 years) but they started later in life and are now 55, they can retire with less years of service just because they are older. Isn't that age discrimination? Isn't that why the original pension cutoff was changed from "born after 1978 and promoted after 2006" was changed to just promoted after 2008? The problem is there are many different laws in many different states regarding this nonsense especially since Enron. I don't know what they all are I am sure somewhere there is one that is written that doesn't allow a company to promise something for an entire working life and then pull the carpet out from under them at the last stretch with complete disregard, especially when the CEO keeps getting record bonuses and record profits. Actually they are not record profits. What they have done is taken everything from us and then placed it in the "Profit" category when all they did was steal it from the people who made it. If anyone of importance is out there, if you want us to tighten our belt lead by example and start with yours. You cant cry poor and lavish yourselves with dividends and bonuses and expect anyone to believe it. [/QUOTE]
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