A lot of you seem to forget our benefits used to be better. The high deductible plan ($3,500) used to not $0.00 in 2018. And don't believe the BS with the "Choice Health Dollars" that's just a tax write off for them. Then in 2019, they increased it to $900/years, that's a huge increase! Oh, and the company only likes to give 2% raises if you meet expectations on your performance reviews. So if you take the increase in health insurance, rising inflation, and the rising cost of living; you're already behind and actually making less than when you started. If you made $50,000 in 2018, you're actually only making $48,000 now in 2020 in 2018 dollars. The biggest raises are when you change companies not staying with them. Gone are the days of 10-20 years careers with the same company, only stay 3-5 years to set yourself up for financial success.
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Breaking News- Elimination of the pension plan all together will be the next “transformation “.
The leaders that hired me in the mid 90's that retired after 30 + years with Allstate with the prior benefits and 401k plan, pension plan left with over $800k ++. I was so looking forward to a long prosperous career and comfortable retirement. Numerous changes, revisions in the benefits, pension plans have exposed the corporate thieves. I am fortunate for what I will have but a fraction of what was promised when hired. Lie cheat and steal their way to success will end in failure.
Gone are the Days of Jumping companies for more money too. Companies won’t even match your pay anymore. Once upon a time there were hundreds of insurance companies and they had to compete with pay and benefits. Now you have a few huge companies that do not have to compete for labor like they used to because there are no longer many options for employees to shop around their talent.
The single biggest benefit reduction took place in 2013 when the the Final Average Pay pension plan was frozen. Most employees didn’t realize that they’d would potentially be losing out on hundreds of thousands of dollars.
Nothing to be blessed by working at Allstate. It is just a fricking job
Welcome to the world of big business. This is pretty much par for the course for most big companies in most all industries. At least for the companies that are still providing benefits at all. Be blessed for what you have at Allstate.