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Started By
Message
Do you have a pension?
Posted on 3/22/22 at 11:35 am
Posted on 3/22/22 at 11:35 am
Most companies no longer offer a true pension plan. Many offer some type of 401k so people are pairing that with the thought SS will still be around.
Does your company offer a true pension?
Does your company offer a true pension?
22
Posted on 3/22/22 at 11:37 am to HeartAttackTiger
Yes, we still have a true pension
Company puts in 10% of our salary into 401k annually after 9th year
Company puts in 10% of our salary into 401k annually after 9th year
Posted on 3/22/22 at 11:39 am to Jason9782003
quote:
Yes, we still have a true pension
Company puts in 10% of our salary into 401k annually after 9th year
Pretty impressive numbers for the 401k. Especially if you have a true pension to go along with that.
Posted on 3/22/22 at 12:37 pm to HeartAttackTiger
I would be shocked if this was actually the case. If so the company has very good margins….
Posted on 3/22/22 at 1:00 pm to Jason9782003
Non American oil company by chance?
Posted on 3/22/22 at 1:05 pm to HeartAttackTiger
Yes... FERS
Posted on 3/22/22 at 1:10 pm to HeartAttackTiger
I get a cash balance pension in addition to 401k.
Cash balance is 6% of salary yearly.
Not as good as traditional pension, but better than nothing.
Cash balance is 6% of salary yearly.
Not as good as traditional pension, but better than nothing.
Posted on 3/22/22 at 1:29 pm to Privateer 2007
quote:
I get a cash balance pension in addition to 401k.
We get something similar, closer to 3% but based on formula it increases with years of service and age.
Our 401k isn’t great 25% match, gets to 50% match of 6% at 4 years.
Posted on 3/22/22 at 1:52 pm to Jason9782003
assuming thats Shell
Posted on 3/22/22 at 2:40 pm to HeartAttackTiger
yes, my employer contributes 3% to a pension. They also match 6% towards 401K
Posted on 3/22/22 at 2:40 pm to LSUSLU106
Pensions dropped a few years ago except for those grandfathered in. After pensions were removed, 401k match adjusted to be 150% of max 6% contribution. So you put in 6% and they give you 9%.
This post was edited on 3/22/22 at 2:46 pm
Posted on 3/22/22 at 2:56 pm to tankyank13
quote:Wow!
yes, my employer contributes 3% to a pension. They also match 6% towards 401K
I really thought private-sector pensions had been past-tense for nearly 30 years. Good for you and the other posters in that situation. That is a nice benefit.
My folks retired with pensions. It's been very nice for them. Neither MsNC nor I have one, and I don't personally know anyone in the private sector who has a pension.
Posted on 3/22/22 at 2:58 pm to HeartAttackTiger
Yes I have 2 pensions.
One is from a real estate REIT I worked for for 10 years. We also had a 401k.
The other is Goodyear-my one year of service gets me $8.33/month.
One is from a real estate REIT I worked for for 10 years. We also had a 401k.
The other is Goodyear-my one year of service gets me $8.33/month.
This post was edited on 3/22/22 at 5:29 pm
Posted on 3/22/22 at 3:19 pm to bleeng
Pension plus 8% 401k match. I’ll also get about $2,000 per month from another pension when I turn 50.
Posted on 3/22/22 at 3:22 pm to HeartAttackTiger
6% cash balance pension and 6% 401K match.
Non American oil company.
The older guys have a old school pension but they changed it about 15 years ago.
Non American oil company.
The older guys have a old school pension but they changed it about 15 years ago.
Posted on 3/22/22 at 3:25 pm to HeartAttackTiger
Yep. Woohoo
Posted on 3/22/22 at 3:36 pm to HeartAttackTiger
I still have a pension with my company although they phased it out for new hires. Instead, they put 10% on a 5% 401k match where I only get a 5% match.
Posted on 3/22/22 at 3:42 pm to DaTruth7
Have one and have no idea the details. Basically ignoring it and doing traditional retirement and hope to be pleasantly surprised in the end.
Posted on 3/22/22 at 4:22 pm to HeartAttackTiger
Railroad Retirement pension, but I don't get Social Security. And we had 401k before I retired.
Posted on 3/22/22 at 5:28 pm to CE Tiger
quote:
Have one and have no idea the details. Basically ignoring it and doing traditional retirement and hope to be pleasantly surprised in the end.
Basically same for me. While I have a pension, I am saving for retirement as if I can't count on it, or SS
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