You know it probably wouldn't have come to this if things were done fairly, but when a 26 year employee loses his pension, which was to be replaced by an additional percentage added to the 401k, only to see the replacement portion taken away while the new hire loses nothing from his 401k. Wouldn't it had been better to take an equal percentage from everyone instead of more from the senior employees, and why not start giving back to the ones who lost the most first? I have lost a lot from this company but the pension hurts the worst, I would have retired in a couple of years, now I may have to work till I die :(
Yes we got our pay back, and that's a good thing. But I'm trying to look at the future. I can live with the 4 weeks vacation I lost, the 5 days of sick pay, the 5 % pay cuts, the 401 k match, but when you take the 401k payments that were supposed to make up for stopping our pension, you're hurting me in the future. Pension went from around 3,000 a month to about 1,000 - 1,100 now (just had dsr retire with 24 yrs and he gets about 1100). This affects me in the future, and we will never regain the amount lost in the last 2 yrs.
The pension was frozen 6 years ago.. if that six years has made a differnce in your life or death, you got problems..