then shouldn't the people currently taking the pension or who are pension eligible consider it a safe bet?
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He is also getting paid $100000.00 a year for consulting. This is in addition to his retirement. C-suite has their own pension fund and plan. Talk about a get rich quick scheme.
If they choose, his great, great, great, great grandchildren will never need to work for a living!
I don't see any bellyaching.
I think the point trying to be made is if one person is set up for life after only a year or less with receiving a certain amount of monthly pension it would not matter to them if the pension completely vanished after one year.
Where as, there are others that will only be slightly supported on their monthly pension and they are totally dependent on that payment continuing for their lifetime. They would be totally destroyed if after the same year time frame as mentioned above (1 year) the monthly pension completely vanished.
The point I see being made is that the comparison of the two scenarios has no validity.
Quit bellyaching cuz some executive is making money.
I have no knowledge of what choices the executives have as far as options for their pension.
There is an executive compensation department and they are very tight-lipped.
They may not have a choice for a complete lump sum or for any lump sum.
I really doubt many people have knowledge about this unless it pertains to them.
It is a really good point to make that at $240K per month, after 6 - 8 months he will have received more than any retired non-management will receive for the duration of their life after retirement, so there is not nearly as much liability for him (RS)..
After only 1 or 2 years he has received a fortune....
That's not nearly the liability that someone has that is only getting $1.5K - $3.5K (or less, depending on how long you worked here) each month. They don't have the opportunity to save 2 or 3 million in the first 2 years of retirement.
This seems to me not at all comparable in the decision between monthly payment or lump sum.
@ekd+1ieuMgGi My question was about the former ATT CEO who has retired and supposedly getting (or eligible for) $240k (+?) per month pension (or at least that's what I thought I had read) not the current CEO.
And I thought former CFO John Stephens said that the executives pension came from the same funding as the rest of us?
Considering that he makes more in 1 year of salary than any craft make in their ENTIRE EMPLOYMENT,
And considering one year of his retirement will be more than any craft lump sum or the total of monthly payments received in the ENTIRE LIFE of any retired craft employee,
I think your sentiment may not be as relevant as you first thought......
And how do you know that the Stink is taking a monthly pension?
Don't forget that the executive pensions are separate from our grunt pensions. Stink will be paid FIRST!