Allstate is forcing tenure employees out and no paying their pensions for several months, giving them the run around, what a bunch of thieves.
16 replies (most recent on top)
Unsure this is true. My pension and 401k money all came right on time or earlier.
There is no such thing as workplace tenure. All employment is at-will.
Sounds like this would be a pretty good class action lawsuit!
Where do you think someone is getting 5 percent interest in 90 days.clueless to think that is real
It's happening to me right now, I made my choices, sent the form then they keep changing the payment date from 1 month to another, outsourcing our pension to another company, nobody in HR can contact the payment processing center. It's a scam.
Complete BS. There are laws they are subject to. You are given a choice of when to take your pension.
If Allstate can delay giving out 1 million in pension dollars for 90 days, how much can Allstate make off of that million dollars in interest ? At 5% the answer is : 12,500, based on APR distilled down to just 90 days. Now times that by 300 expensive middle managers that are about to get the boot and you have a worthwhile number for Tommy Boy to salivate over. Wake up woke one’s.
What's a pension?
You mean the defined contribution junk were given ? Not looking gift horse in mouth but that exodus last Dec of defined benefit pension holders really are blessed NO companies offer those anymore in any industries. Guaranteed $ for life not just investment fund which rest of us are stuck with. And if somewhere still does please prove me wrong and share because I may switch careers lol
This company has been known to needlessly delay pension payouts but they all do get paid. Even a moral cesspool like Allstate knows the legal He-l that would be brought upon them if they did not pay out the pensions.
This is a 100 inaccurate post that is flat at wrong. Math used in prior post is flawed. Please don’t make up things that are not occurring.
Simple math folks. If this douche bag company can hang on to literally millions of dollars for 90-120 days, that is free interest for the! Duh. They play the hold on game with money. A 120 Cd is paying 5%. Hmmm that is roughly 500k the easy way just by holding on to folks’ money for 4 months. Learn the game naysayers.
Exactly- it is fake news. If you call HR on a timely matter prior to termination, if any money is owed it is done in a reasonable timeframe. The clowns you are referring to probably waited until the last minute to arrange to get the funds.
More fake news
I no longer would allow this awful company and their lying and stealing leadership to insure a doll house…..
Do they still ask you to sign integrity agreements while senior leadership has been shown to have none?
There is a special place in h@ll for Wilson…
Very easy, they postponed the payment for 3 to 4 months, just transferring the calls from 1 Indian employee to another, making, just another way to sc--w the people that worked for years giving free hours and excellent service. Such a disgrace
How can they not pay their pensions?