Speak for yourself -elk. I’m sitting right around there now
18 replies (most recent on top)
It's not ignorance. He knows pensions are guaranteed. What you need to realize is that talking about the pension is the surest way he can get a reaction and feel like he is something.
@ysq don’tcontinue in ignorance dumba$$, read the provided information per link below.
Im a Union member at 273 Schenectady and we don't want you to have a pension!!!!
Yawn festival.
Pensions are not guaranteed.
Instead of guessing, talk to your HR for correct answer.
Lots of ignorant phucks commenting. Pensions, for the VAST MAJORITY of employees, would be guaranteed up to certain maximums. For example, taking your pension at 65 is guaranteed up to $66k/yr. None of you dumba$$es screeching here make enough to earn even half that in pension so you can calm down.
https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee
Good thread
I agree. The government will allow G.E. to get rid of my pension to survive. The company will offer buyout at considerably reduced price. Then i will have 401k which will go by Stock Market. Hey if i don't like it i can look for new job.
Kiss your pension goodbye. The incentive for companies to throw this benefit out the door is compelling. They just need a good reason and survival would do it.
Pensions are commonly reduced these days. I definitely wouldn't plan on living comfortably on it if at all. Since 2014 it's been easier for the board to have them cut.
Pension guaranteed by PBGC, subject to limits based on age at time of retirement / insolvency.
NO, don't be fooled. Pensions not safe.
Yes
pension guarantee board
Boring.
Cash and cash shortfalls are the key to understanding this question.
There are significant risks long term to the viability of the pension as it relates to cash flows from GE to the Pension.
It is conceivable that the company even after selling all assets it has identified that it will need to create publicly traded businesses for what will be left of Power and Aviation and then allow the corporate HQ to die while protecting the ongoing business of the various sub-product lines.
The evidence for this plan is as plain as in John Rice’s title of Chairman. You only need a Chairman of the board as an official title if you plan to then have public stock issued for a biz unit.
Thus, the way out of Jeff’s mess might be to let the HQ die along with all of the bad Capital debt while allowing the business units to survive on their own as separate public companies. The only question is will your pension get left in the HQ being set up to die or will it get moved to a business unit pension plan with a survival plan.