My point is quit relying on your employer to fund your retirement. I worked at Packard Electric decades ago. Most of the white collar folks there had their pensions transferred to the PBGC about 15-20 years ago. Which cut their benefits to some tiny fraction of what they were promised. They’ve been fighting to get what they deserve since then, unsuccessfully. I never trusted my employers ever to keep their promises. That served me well.
Sent from Yahoo Mail for iPhone On Tuesday, February 13, 2024, 2:27 PM, Doug Fuerst <[email protected]> wrote: $22.5K if only you and $66K in you/employer is not enough? https://www.investopedia.com/retirement/401k-contribution-limits/ Doug Fuerst [email protected] ------ Original Message ------ >From "Wayne Bickerdike" <[email protected]> To [email protected] Date 2/13/2024 14:12:28 PM Subject Re: IBM Reopens Its Frozen Pension Plan, Saving the Company Millions >Looks like they are reverting to a Defined Benefit scheme. I never received >anything from IBM after my employment with them in the 70's. > >The 401K contribution limits are too low to ensure a comfortable >retirement. > >On Wed, Feb 14, 2024 at 5:38 AM zMan < >[email protected]> wrote: > >> "The company has stopped making contributions to 401(k) accounts, and >> instead gives workers cash credits in a new version of its old pension >> plan." >> >>https://www.nytimes.com/2024/02/09/business/ibm-pension-plan.html >> (login required but surely will be elsewhere as well) >> >> IBM plays more financial engineering games. >> -- >> zMan -- "I've got a mainframe and I'm not afraid to use it" >> >> ---------------------------------------------------------------------- >> For IBM-MAIN subscribe / signoff / archive access instructions, >> send email to [email protected] with the message: INFO IBM-MAIN >> > > >-- >Wayne V. Bickerdike > >---------------------------------------------------------------------- >For IBM-MAIN subscribe / signoff / archive access instructions, >send email to [email protected] with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [email protected] with the message: INFO IBM-MAIN
