12-03-2007, 05:12 PM
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 | A kinder,gentler,Mod | | Join Date: Apr 2006 Location: Buffalo R-77 retired
Posts: 2,414
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Quote:
Originally Posted by Overnite  A pension can be rpomised to you for 29 years but if the company goes bankrupt, your pension goes bye bye, a 401k can not ever be taken from you. | Jeez, How many times do we have to tell you"the company cannot touch the money that has been paid into your pension". The company has no control, other than an equal number of advisers on the board overseeing the investments of the board. Ask any retired CF, Preston or any other company that has closed. The man still gets his pension. I'll bet your company can "borrow" from your 401 money that they contribute, just for "emergencies", and I'll bet you'll be more than ready to help them. I wonder how those Enron and Adelphia 401's are doing............ |