XPO | pension plan

huey29 said:
you cant be serious !! if we dont do something this company will be the death to all of us!!! either through corrupt corporate doings or high blood pressure and stress worrying if we are going to have a job or not!!
My dearset huey you haven't got my way of doing it yet.I'm just acting as a brain wash,Head in the sand,Couldn't see the like of day lunch room hero.When I talk like this Its my way of make of these kind back bonesess people.
 
gfy said:
My dearset huey you haven't got my way of doing it yet.I'm just acting as a brain wash,Head in the sand,Couldn't see the like of day lunch room hero.When I talk like this Its my way of make of these kind back bonesess people.
:duh: got ya ,what was i thinking
 
justrucking14 said:
what happens to the money thats supposed to be in our pension plan do we get what's there or do we lose everything. i thought that it was protected by the feds.
Single employer defined benefit pension plans are covered by the PBGB. Your company cannot just dump it on them, they have to be in "real" trouble. You would get approx 70 to 85% of what you had coming, thats what Bethlehem Steel got when they went "belly up". Do a Google search on the PBGB and you can get a ton of info.

However under the new laws they can terminate the plan from further contribtions and freeze the assets that are in their now, but you would still have something coming at your projected retirement date. Hope that helps you.
 
TheBigR said:
Single employer defined benefit pension plans are covered by the PBGB. Your company cannot just dump it on them, they have to be in "real" trouble. You would get approx 70 to 85% of what you had coming, thats what Bethlehem Steel got when they went "belly up". Do a Google search on the PBGB and you can get a ton of info.

However under the new laws they can terminate the plan from further contribtions and freeze the assets that are in their now, but you would still have something coming at your projected retirement date. Hope that helps you.
Thank you.Any good Info is good
 
TheBigR said:
Single employer defined benefit pension plans are covered by the PBGB. Your company cannot just dump it on them, they have to be in "real" trouble. You would get approx 70 to 85% of what you had coming, thats what Bethlehem Steel got when they went "belly up". Do a Google search on the PBGB and you can get a ton of info.

However under the new laws they can terminate the plan from further contribtions and freeze the assets that are in their now, but you would still have something coming at your projected retirement date. Hope that helps you.

Great info for Conway drivers BigR. Thanks for the input
 
im sorry merdock ,but in my my opinion a 401k is NOT a pension !! its a savings and investment plan that gets paid out LIKE a pension..its a way for corp. america to get out of paying a real pension ..a pension is supposed to be payed for 100 percent..they pay a measley 1.5 percent into our 401k savings plan ,, who pays the other 98.5 percent ??? the 401k was started so people in less lucrative jobs could have "something" when they retire ,, but as usual big greedy companies are dumping there traditional pensions left and right in favor of the 401k...little or no risk to the company and alot less money off the top..please tell me what you all think about MY opinion on this...
 
biggdean said:
im sorry merdock ,but in my my opinion a 401k is NOT a pension !! its a savings and investment plan that gets paid out LIKE a pension..its a way for corp. america to get out of paying a real pension ..a pension is supposed to be payed for 100 percent..they pay a measley 1.5 percent into our 401k savings plan ,, who pays the other 98.5 percent ??? the 401k was started so people in less lucrative jobs could have "something" when they retire ,, but as usual big greedy companies are dumping there traditional pensions left and right in favor of the 401k...little or no risk to the company and alot less money off the top..please tell me what you all think about MY opinion on this...

I agrre with you but the "me first" and "no loyalty" attitude goes both ways. Companies have used higher pay plans and lesser benefits to recruit employees who are too short sighted to look down the road. They go for the money and figure they'll worry about retirement later.
 
RevItUp said:
I agrre with you but the "me first" and "no loyalty" attitude goes both ways. Companies have used higher pay plans and lesser benefits to recruit employees who are too short sighted to look down the road. They go for the money and figure they'll worry about retirement later.
Weres the love.
 
Hey BigR what is PBGB??? I don't have a clue.
There is no such thing as a dumb question, only a question that never gets asked!!!
 
the 401k was started up in the70's to help out lower paying jobs and/or self employed seasonal vocations who would go through the winter time without someone contributing to their defined BENEFIT pension fund ... it was originally started as a supplementary savings plan to also help take some pressure off the social security system also ... this plan is not set up to be someones sole source of retirement because inorder to get the rewards / returns needed to fund your retirement you have to get some awesome returns on your investments which usually equates to some heavy risk which will reduce your principle if the stock market takes a bath... if you are too cautious ... you will never make the sort of returns needed to last you the rest of your life to live off of ... not to mention the fact taxes and inflation and the fact that you probably couldn't afford to invest the max . every year because of the silly things like raising kids and eating and paying regular household expenses ...etc...
 
scroodigan said:
the 401k was started up in the70's to help out lower paying jobs and/or self employed seasonal vocations who would go through the winter time without someone contributing to their defined BENEFIT pension fund ... it was originally started as a supplementary savings plan to also help take some pressure off the social security system also ... this plan is not set up to be someones sole source of retirement because inorder to get the rewards / returns needed to fund your retirement you have to get some awesome returns on your investments which usually equates to some heavy risk which will reduce your principle if the stock market takes a bath... if you are too cautious ... you will never make the sort of returns needed to last you the rest of your life to live off of ... not to mention the fact taxes and inflation and the fact that you probably couldn't afford to invest the max . every year because of the silly things like raising kids and eating and paying regular household expenses ...etc...
if conway wanted us to have kids they would have given them to us.
 
You really do not have to mail it. Save the postage, give it to your Human resorce dept in the terminal. Just tell them the clock it ticking from the time they recieve it
 
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