Posted on 04/09/2020 10:48:05 AM PDT by nagant
The guiding principle here is that, as a rule of thumb, companies only pay full retirement benefits after 30 years of employment. 25 years ago the United States was going through utility "deregulation". The secondary energy industry had been a much larger segment of the American market until deregulation. As it turns out competition for employees before deregulation had driven retirement benefits to levels which were unaffordable under post-deregulation profits. With deregulation many secondary energy companies laid off large numbers of employees before they could attain full retirement. That all happened about 25 years ago. Doesn't it seem curious that 25 years later, before the 30 year retirement threshold, the replacement workforce is being decimated by COVID-19?
most people don’t get defined pensions....
Other than Gubment employees and some legacy union jobs, who the hell is getting retirement benefits at all?
Get your 401k and that’s about it
Please see your local mental health professional to have your meds adjusted. About nobody has defined benefit pensions any more and they haven’t since the 90s.
Does FR have a 30 yr threshold for retirement?
Asking for a friend.
No one gets a pension anymore except government unions and a fee politically connected and subsidized businesses (GM, railroads, etc.)
“The guiding principle here is that, as a rule of thumb, companies only pay full retirement benefits after 30 years of employment. “
What a quaint idea.
Pension? You silly goose.
Lifting those regulations that prevented pensions from being ‘invested’ in the stock market seemed like such a great idea back then... Oh well.. Welcome to the second ‘great depression’... The sad part... Lots of these young people believe that the government will fund them indefinitely... When the money runs out that’s when the realization will set in... Instead of money, they’ll just receive food and clothing allowances... If they’re lucky.
As the idiots push us into a cashless society, best keep an eye on those 401s. They could vaporize under our socialist nannies. Oh, and keep your distance and wear a mask, even it it’s a Dale Rogers scarf. Step up, play your part!
Yah, I’m bored, sitting in the basement, writing web code on contract. Got my dogs to keep me company, and Amazon to deliver me some new cooking toys. Retirement? LOL.
“As it turns out competition for employees before deregulation had driven retirement benefits to levels which were unaffordable under post-deregulation profits.”
Thats quite the spin. More like the unions exploited the government protected utilities to demand high pensions. Unaffordable yes and the unions knew it which was why the never insisted on funding. Salaryied pensions were also buoyed by utilities monopolistic portions. Competition had little to do with. If there was competition it is workers competing to join a utility.
Quibbles aside, your point is excellent and I believe it also applies to Social Security recipients.
by utilities monopolistic portions
= by the utilities monopolistic positions’
phone screens are lousy for posting
Amen. After your sight and thumbs go ...
After your sight and thumbs go ...
I just need a sight and index finger :)
My Father retired after 40 years working for the same company. He took a reduced pension amount so that my Mother would have the same payout after he died. Mom is still receiving his pension several years after his death.
No one has that deal nowadays. He warned me; “Don’t count on a pension or 401K covering your living expenses when you retire. I didn’t and will retire in a couple of months with a well diversified portfolio. I planned, but still consider myself as one of the lucky ones.
In some circles, it’s worse than that. Had a skilled job for 35+ years....no pension of course, there was a 401k that paid about the same as your own money saved in a mattress, & sub-level pay in the meantime. I opted NO on the 401k as it didn’t appear to be worth it under the circumstances. The job had actually started out with a profit sharing plan for retirement, but that evaporated shortly after hiring on.
I just jab at it, and let my iPhone suggest... the most ridiculous things. LOL. My laptop isn’t quite so friendly. It uses Windows, which is a virus unto itself.
I’m having a Rodney Dangerfield moment. Excuse my behavior.
I have had a few embarrassing autocorrects. Turned it off after awhile since the misspellings were less an embarrassment then the auto corrects.
Do you also believe that automobiles are a conspiracy to destroy the buggy whip industry and put all the farriers out of jobs?
I was vested in my retirement after 5 years.
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