The only person you should trust for your future is YOU. Relying on executives who are in it for their own benefit, which includes their ability to make profits for shareholders, which in turn earns them more money, is a foolish endeavor. I’ve seen executives who have stolen money from investors and employees. (Phar Mor) Ripped off the retirement of employees. (Packard Electric) All for their own benefit.
Microsoft and a whole slew of major IT companies are laying off thousands now. Even as they make massive profits and the stocks are at all time highs. My dad was a mill rat. He breathed steel. And they kicked him to the curb in the 70’s for more profits by sending those jobs to China. It taught me a valuable lesson. Sent from Yahoo Mail for iPhone On Tuesday, February 13, 2024, 9:30 PM, David Crayford <[email protected]> wrote: Please Mr Z, don’t feed them! > On 14 Feb 2024, at 9:18 am, zMan > <[email protected]> wrote: > > But that's not what you said. Make up your mind, Bill! > > On Tue, Feb 13, 2024 at 8:17 PM Dave Beagle < > [email protected]> wrote: > >> 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 >> > > > -- > 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 ---------------------------------------------------------------------- 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
