Is this lump sum pension payment meant to slow the financial bleeding and paint a different perspective to share holders?
Layoffs could always follow!
It is funny how VAGUE the plan is with regard to TAX consequences depending on age!
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Or else kiss your pension goodbye folks. Nobody cares about your pension except you remember that.
Baker Hughes Company Pension Cash Out: Houston area in-person support
You have a limited-time opportunity to elect to receive your Baker Hughes Company Pension Plan benefit as a lump sum. You have until November 25, 2024, to make your choice. An Election Kit was mailed to your home, and it has everything you need to help you decide if this limited‑time offer is right for you.
Attend an in-person event!
You can get in-person help completing your lump sum election paperwork. Notaries will be available to notarize spousal consent forms.
Bring your personalized Election Kit that was mailed to you and government-issued identification (i.e., driver’s license, state photo ID, passport). If you are married, your spouse must be with you and must also bring government-issued identification since your spousal consent forms must be notarized. Notary services are also available at banks and select USPS locations.
November 1, 2024,
9 a.m. to 3 p.m.
Hawthorn Extended Stay by Wyndham
Kingwood/Houston
24450 Eastex Freeway
Kingwood, TX 77339
November 1, 2024
9 a.m. to 3 p.m.
Hyatt Place The Woodlands
1909 Research Forest Dr
The Woodlands, TX 77380
November 8, 2024
9 a.m. to 3 p.m.
Marriott Courtyard Sugar Land Lake Pointe
16740 Creek Bend Dr.
Sugar Land, TX 77478
November 15, 2024
9 a.m. to 3 p.m.
Hilton Garden Inn Houston Energy Corridor
12245 Katy Freeway
Houston, TX 77079
November 15, 2024
9 a.m. to 3 p.m.
Courtyard Houston Northwest/Cypress
23930 Northwest Fwy
Cypress, TX 77429
November 22, 2024
9 a.m. to 3 p.m.
SpringHill Suites Houston/Pearland
1820 Country Place Parkway
Pearland, TX 77584
Wow now they are desperate to clean-up their financials and have booked at least 6 different Hotel conference rooms just in the Houston area.
Are they booking conference rooms near other Baker Hughes facilities around the country to try to convince more to pull their pensions early?
Heard people lost their pension widen GE took over.
Take the cash. When Baker gets bought out next year, everyone who still has a pension will lose it.
Does anyone question why this generous leadership is exercising this program with a window deadline well before end of Q4?
And it is not applicable to current employees?
Let us remember financials are always due before close of Q4.
Does our leadership mimic that of Stellantis?
It’s for the people who actually worked and got laid off over the last few years. The people that are still there continue to have to get sc--wed.
Finally got a straight answer from HR, only for those laid off before May 31, 2024.
The email sent today says, “Certain Baker Hughes Company Pension Plan (“Plan”) participants who no longer work for Baker Hughes are eligible for the Special Election Window, a one-time opportunity to receive your Plan benefit as a lump sum payment in late December 2024.”
Haven't heard about this. They're distributing the pension to everyone?