Thread regarding General Electric Co. layoffs

Got it, so no actual numbers or calculations.

My calculations told me that mnc is making several bad assumptions, so bad he must be trying to ruin people's lives. The most obvious one is trying to assume the date when you die. That's not how people with even just an annuity license, a series 6, would do that calculation.

@121ZcFsz-wmi
Calling someone a troll that understands time value of money doesn't make you smarter. What do your actual calculations say?

1) don't compare to the age 65 pension. you would need another 25 years to get there and btw the company froze the pension so it is moot

2) figure out how much they are giving you. take 80% of that (in case the guarantee board needs to step in) * 75% if you have a wife that is your age or less as stats indicate she should outlive you * 30 years and then discount it OR use the calculator that has been posted out and try to beat the "guarantee"

see: "How Much Is GE Shortchanging Pensioners Taking Lump Sums - Use Our Calculator"

https://www.forbes.com/sites/baldwin/2019/10/20/how-much-is-ge-shortchanging-pensioners-taking-lump-sums-use-our-calculator/

That is the idea. To save money and screw the employees.

Anything that is good for GE can’t be good for the employee. Remember, the majority of Culp’s compensation is tied to the stock price. He’s doing everything he can to make sure he gets his, he could care less about you.

The purpose of any buyout is to reduce a company’s liability by inducing you to take less. Less is not more in this case.

"My financial advisor told me to roll it to an IRA."

That's a horrible lie. The wind up to that had assumptions no one with a 63, 66 or 67 would make.

Look, I don't mind a bit of trolling but when you are actually trying to ruin people's lives to get a laugh that's too far.

Using an annuity at another financial company will automatically be worse. Talk to you financial advisor about rolling to an IRA. Also see my other post and be sure to do a dual rollover of taxable and non-taxable. Assuming you are age 42 with a conservative life expectancy of age 90 even though the IRS table says 80, with a 7% apr on the market your payment would be closer to $3150 per month. In otherwords, still using age 90 and a payment of $1800, you would need to make about 5.25% apr in the market to break even. The question comes down to is the risk worth it to you with the likely potential to be $3150 / month. My financial advisor told me to roll it to an IRA.