If we file for bankruptcy, is our pension protected?
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For clarity, (1) riverbed does not have a pension (2) all stock types are worth likely $0 (3) 401k is untouched.
If you bought Class A (as they told you as Employee Incentive Invest opportunity, and no-risk guarantee annual 9% interest), you wll most likely lost all of it.
If by “pension” you mean “401k”, then the short answer is “it will be fine”.
Money in your 401k is yours. It is held and invested by schwab not rvbd. Rvbd does contribute a small amount to your 401k but that money is yours too. One thing to watch out for would be more “great news” from DS where the vesting terms of the rvbd 401k contributions are changed. Unvested employer matches can be pilfered in a bankruptcy or when you quit. That would be a new low, but the fact that we even have to think about this shows how low we’ve gone.
If you quit and have any lingering concerns, you can just roll the 401k into a personal IRA and be done with it. Call Schwab directly and they will help you with that.
Past, long term employee here. Had no pension, only 401k which should be safe. RVBD never did matching anyway though. Garbage.
Not as screwed as the Canadian Teacher’s union, iirc.
Exactly how screwed are we?