Announced today that starting next April, they will no longer contribute to the pension. Will be closed and your % that is put into it, will now be put in your 401k as a lump sum. In two years, the lump sum will be 3% for all, no matter how long you’ve been there. Whether you’ve been there 40 years or 6 months, still get 3%
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Sorry, 26.5.
Fat fingers
Oh your right poor Tom only made 26.5 mil poor fella, I hope he can afford his benefits
https://www1.salary.com/Thomas-E-Polen-Salary-Bonus-Stock-Options-for-BECTON-DI-KINSON-and-CO.html
I left BD years ago; im not getting any info on this. Is a letter going out to those affected with details on whatever is going on with the pensions? Id like to learn more... Ty
Tom was impacted by the change too.
3% becomes zero after two years… the clock has been set.
Need to save money for those DEI programs that do nothing. Really sad to see
The 401k match stays at 3%, it has nothing to do with your cr-ppy pension. Your pensions are toast if you were lucky enuff to have one. Once a freeze is placed, the money is no longer guaranteed . The bottom falls out with every interest rate hike. So for those of you that are Bard Legacy you are utterly screwed. I know of some that were legacy for nearly 40 yrs. They early retired last year because people finally became aware of what was happening. With each 1% the feds raised interest rates they lost 60k from their legacy pension. So the longer you stay the more you bleed. Feel free to call em up and ask or you can just keep pretending your money is okay. The only way to stop the bleeding is to quit and transfer your remaining money into an IRA or some similar retirement. Tom Polen thanks you for your support
This is strictly for people that have a legacy BD / Bard pension only. This has nothing to do with elective 401(k) contributions and company match.
What is meant by 3% for all no matter for all. I take 6% 401k matched at x amount by BD and 401k is based on investments which can go up or down.
No, the 401k is unchanged. It’s just all the dedicated people that have been their busting there a-s for years That are getting screwed
When I stated BD there was no pension. They offered 401k to which they matched at at x amount. Will the 401k be affected?