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To: akalinin

My 81-year-old father worked for a subsidiary of General Electric yes entire life. He was offered a pension that no despite not being multi employer is also in danger. Towards the end of his career he was also allowed to invest in an early 401k which he did. Problem was the only via cola in the 401(k) was GE stock. There were no other options. We all know how well GE stock has done lately. It’s a shame that he planned for his entire life to have a secure retirement and that is now all in danger. Fortunately for my parents and their children are more than willing to help out where needed, but a lot of seniors are not that fortunate.


18 posted on 07/12/2019 6:58:03 PM PDT by Mom MD
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To: Mom MD

ugh. dictated the last post and it’s terrible. The only vehicle in his 401k was GE stock


20 posted on 07/12/2019 7:00:30 PM PDT by Mom MD
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To: Mom MD
My 81-year-old father worked for a subsidiary of General Electric yes entire life. He was offered a pension that no despite not being multi employer is also in danger. Towards the end of his career he was also allowed to invest in an early 401k which he did. Problem was the only via cola in the 401(k) was GE stock. There were no other options. We all know how well GE stock has done lately. It’s a shame that he planned for his entire life to have a secure retirement and that is now all in danger. Fortunately for my parents and their children are more than willing to help out where needed, but a lot of seniors are not that fortunate.

Same here, my mom and dad can count on us children to help them if his pension goes insolvent (though I do tease them about picking vegetables on my farm!). BTW, my mom lost some tens of thousands of dollars on GM stock that she inhereted from her father when GM went belly up.
21 posted on 07/12/2019 7:35:51 PM PDT by akalinin
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To: Mom MD

My father worked for GE for over 30 years. It was a source of pride that GEs pension plan was always fully funded. Then came Jeff Immelt


29 posted on 07/13/2019 2:11:50 AM PDT by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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