Does anyone know if pensions are still funded? I emptied my 401K once I read where the company can use those funds.
7 replies (most recent on top)
Fake news. Meaning GAC can’t take or touch your 401k. So not sure why you would take your money out
I was not saying GAC never offered a pension.
Pension from GAC isn’t fake. I started in 1992. They didn’t stop offering new employees pensions until after 2006 lay-off (or around there; same lay off they took the health care premiums supplemented by company for folks who took Voluntary Separation or Early Retirement).
They will stop contributing to the pensions soon... 2021, I think.
I don’t understand the comment about 401 “...now not recoup...” I didn’t loose money. I got out when I learned company could use funds which was before Covid’s early cases in Washington state.
If you started before January 2007, you should have a pension.
Who ever got a pension at GAC? They didn't exist the 15 years I was there. Agree - fake news. Can't take away anything you never got.
Op. That is absolutely Fake News.
Your going to lose your a– when the market comes back bud. Everything you lost in your 401 you will now not recoup. Trust me. I stayed in a holiday Inn express last night.
Where did you read that the company can use your 401k funds? For one thing, that's illegal...
Good move, OP. GAC is going to screw us like a reluctant cousin. No respect or consideration to be had. Grab your behind and say "Feebe".