Deleted
Joined: May 5, 2024 19:19:44 GMT -5
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Post by Deleted on Apr 22, 2011 6:57:55 GMT -5
Got a summary of the annual report for my company pension/retirement plan for the year ending for 2010 as it been filed with the IRS. I can get a full copy of the annual report but would cost $4 and that is 2 cups of coffee Plan expenses : $15,129,876 -> $1,158,805 were administrative expenses -> $13,971,071 were benefits paid to participants and beneficiaries -> 14,636 people are in the plan or beneficiaries but not all of them had yet to earn the right to receive benefits. The value after subtracting liabilities was: $217,952,740 compared to $167,339,027 for 2009. Increase of net assets by $50,613,714. this increase included unrealized appreciation of $41,940,538 in the value of plan assets. Total income was $23,803,052, including employer contributions of $20,000,000 and earnings from investments of $3,803,052. So will I still have a pension in 40 years
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happyscooter
Senior Member
Joined: Jan 5, 2011 9:04:06 GMT -5
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Post by happyscooter on Apr 22, 2011 7:40:05 GMT -5
Yes. Stop buying coffee. ;D
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Deleted
Joined: May 5, 2024 19:19:44 GMT -5
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Post by Deleted on Apr 22, 2011 7:45:00 GMT -5
Yes. Stop buying coffee. ;D I am addicted And with 9-10 hours workday (without including the 2 hours commute) I need my caffeine
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happyscooter
Senior Member
Joined: Jan 5, 2011 9:04:06 GMT -5
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Post by happyscooter on Apr 22, 2011 7:47:36 GMT -5
Gee, how old are you? I thought you were in your 40s.
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Deleted
Joined: May 5, 2024 19:19:44 GMT -5
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Post by Deleted on Apr 22, 2011 7:56:29 GMT -5
Gee, how old are you? I thought you were in your 40s. han? lol I am 25 why?
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happyscooter
Senior Member
Joined: Jan 5, 2011 9:04:06 GMT -5
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Post by happyscooter on Apr 22, 2011 7:59:45 GMT -5
I feel old.
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happyscooter
Senior Member
Joined: Jan 5, 2011 9:04:06 GMT -5
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Post by happyscooter on Apr 22, 2011 8:00:08 GMT -5
I guess I feel old because I am old.
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Deleted
Joined: May 5, 2024 19:19:44 GMT -5
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Post by Deleted on Apr 22, 2011 8:22:48 GMT -5
I guess I feel old because I am old. oh come on, you are not
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alabamagal
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Post by alabamagal on Apr 22, 2011 9:05:54 GMT -5
You are very young and have a long time until retirement. My thoughts are that as long as you are working and contributing to the plan (or your company is contributing to the plan), you will get that money. However, I think many companies will do away with plans like this in the future, or greatly reduce. When I worked for a large company, they lowered the retirement plan formulas, but only for future years, so for the first 10 or so years I earned a higher rate, and the rest a lower rate. So just pay attention to any plan changes like that.
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Deleted
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Post by Deleted on Apr 22, 2011 9:11:09 GMT -5
You are very young and have a long time until retirement. My thoughts are that as long as you are working and contributing to the plan (or your company is contributing to the plan), you will get that money. However, I think many companies will do away with plans like this in the future, or greatly reduce. When I worked for a large company, they lowered the retirement plan formulas, but only for future years, so for the first 10 or so years I earned a higher rate, and the rest a lower rate. So just pay attention to any plan changes like that. I am not worried about the plan since I am not contributing any money into it. I am saving for our retirement as if we would not get the pension or social security but it would definitely be nice to get both. Thanks for the tips and I will definitely keep an eye on the plan.
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azphx1972
Familiar Member
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Post by azphx1972 on Apr 22, 2011 13:57:07 GMT -5
Just think of it like Social Security. Be happy if you do end up get something, but have a backup plan in case it doesn't materialize.
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