Oregon companies' pensions are in peril

The Oregonian ^ | 7/5/09 | Brent Hunsberger

[goodnesswins]

For Oregonians, many employers owe more benefits than their retirement plans can pay

You think your 401(k) is in bad shape? Your pension could be worse off. Provided you even have one.

Thirty-four of 36 large publicly traded employers operating in Oregon owe more retirement benefits than their traditional pensions can pay, an analysis by The Oregonian found.

http://www.oregonlive.com/business/index.ssf/2009/07/pensions_in_peril.html

[goodnesswins]

Interesting story.....my husband works for one of the companies profiled.....and is probably going to be "early retired"....this year....depending upon what they do with the "pension". The story here profiles his company making it sound like one of the worst, when in actuality it is one of the best situated....well...for the time being, that is.....interesting times we live in.

[PugetSoundSoldier]

I don’t understand the issue; there is no problem here! I mean, if it’s good for Social Security to have unfunded mandates, then isn’t it OK for private companies to do the same?

[cbkaty]

If you have a choice...take a lump sum (the bird in the hand)...or one can "gamble" on the old "promise to pay in the future"....

Check out what Gerald Celente has to say about pensions....

[goodnesswins]

Yes...lump sum is a possibility (being weighed against the immediate annuity, which actually isn’t bad right now, either).....it’s more a decision of whether to hang on and work (only 58 years old) if possible, or not....inclining toward the NOT!

[goodnesswins]

OREGON FR ping

[STONEWALLS]

“If you have a choice...take a lump sum (the bird in the hand)...”

...that’s what I did when my Ohio based employer gave me forced early retirement 10 years ago...I’m glad it happened when it did....that company is in bad shape today and I probably wouldn’t get a lump sum...their stock is trading at $1.50 and has been de-listed from the NYSE

[Robert357]

bump for future reference, a lot of these are considered by many to be Washington State companies, Boeing, Alaska Air, Weyhaueser, etc.

[Lancey Howard]

For Oregonians, many employers owe more benefits than their retirement plans can pay

What's the big deal? Just confiscate money from taxpaying, traditional American familes....

Oh wait... Only the scumbag government can do that.

[Oldexpat]

Most Cities and States are also underfunded in their retirement and health care funds. Of course they don’t stand much chance of going bankrupt with the taxpayers underwriting them.
If given the chance..take a lump sum rather than traditional pension. You can always use that to buy your own annuity..or invest yourself.

[DownInFlames]

Wanna bet? If a city or state declares bankruptcy, the judge can nullify the pension. Whala, no liability anymore.

[Oatka]

"Don't panic," said Salisbury of the Employee Benefit Research Institute, . . .

Where have we heard those words before? I hope this old adage doesn't hold: "If you are keeping calm when everybody else is panicking, you're not aware of the situation."

[Salvation]

Good find!

[Salvation]

Oregon Ping

Please notify me via FReepmail if you would like to be added to or taken off the Oregon Ping List.

[sionnsar]

bump for future reference, a lot of these are considered by many to be Washington State companies, Boeing, Alaska Air, Weyhaueser, etc.

Thanks to Robert357 for the ping.

Say WA? Evergreen State ping

Quick link: WA State Board

FReepmail sionnsar if you want on or off this ping list.

Ping sionnsar if you see a Washington state related thread.