Thread regarding Honeywell International Inc. layoffs

Took voluntary layoff at age 62 when covid hit (Q2 2020). Lump sum pension, 401k to an IRA, 6 months severance (I had 34 years in), unemployment benefits, and additional benefits with the government supplementing unemployment insurance. After they gave me a fake PIP in 2018, (my boss actually apologized and rigged the "improvement plan" to be no more than my original goals were), I chose to never trust this company again. The dishonesty was stunning.

I think HW sells your pension once you retire to NT. That's why HW still has funding reports. How many pensioners are there left? According to HW too many. in 30 years that number will be very close to zero and goes down each year when people pass.

I thought Northern Trust just managed the pension benefits for Honeywell. In yearly statements there is a summary of funding and solvency and Honeywell is still putting money into the pension funds.

How many pensioners do we have left in our 130k person workforce?

be very careful. If HW can figure out how to stop paying pensioners they would do it in a split second

I was also on the Allied Signal pension. (Retired in 2021) Didn't have the option of lump sum and would not have wanted to roll it into my 401K anyway, The 1st thing I did upon retirement was roll my 401k into an IRA. I wanted something that was stable. The way the stock market has been the last month I'm glad I did.

I was with the AlliedSignal pension plan and did not have the lump sum option to roll it over to an IRA. Honeywell transferred my pension obligation to Northern Trust (an insurance company) and I've been receiving my monthly payments from them for the last six years. No problems with that at this time.

Here's an excerpt from Northern Trust's website. "For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Today, we have more than 23,000 employees around the globe and manage more than $1.6 trillion (as of December 31, 2024) in assets for our clients."