| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 645.1 | | SOLVIT::KRAWIECKI | Less politicians, more warriors | Thu Feb 08 1996 14:44 | 5 |
|
ADD ENTRY HUMANE::DIGITAL
Note 147
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| 645.2 | | BIGQ::SILVA | Benevolent 'pedagogues' of humanity | Thu Feb 08 1996 14:50 | 29 |
|
Under the new pension plan, that came in the mail yesterday, i am going
to be getting about 5� times the amount to start out with than what they say I
have acrued so far in my 7.66666666 years here.
I had thought under the existing plan, that they base your retirement
on 2% of your base salary a year. IF this is true, then according to what they
say I have, and what I figured out on my own, their figure is 20% short.
Hmmm...
Now under the new plan, they are taking your base salary * 5% * years
of service. This amount is what you will start out with for your new pension
amount. Like I said, for me it is about 5� times more than the existing plan.
Digital will make a quarterly deposit equal to 4% of your earnings.
This INCLUDES overtime.
The money will be in an interest bearing account, which if memory
serves me correct, it is at 7.45%. Each July 1st, they will set the rate for
the following fiscal year.
If you leave the company, you can take a one lump payment (-20% for
taxes), payments (monthly I believe) for the rest of your life (if you die, you
lose the amount left), or you can roll it over to another "approved" account and
not have to pay any taxes on it. (ie SAVE, etc)
Now it seems like this is a pretty cool plan. But is there something
I'm missing here? I mean, the plan....
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| 645.3 | | MKOTS3::JMARTIN | Madison...5'2'' 95 lbs. | Thu Feb 08 1996 15:46 | 1 |
| Can't get around the old minimum wage eh Glen!!!! :-)
|
| 645.4 | | BIGQ::SILVA | Benevolent 'pedagogues' of humanity | Thu Feb 08 1996 16:01 | 5 |
| | <<< Note 645.3 by MKOTS3::JMARTIN "Madison...5'2'' 95 lbs." >>>
| Can't get around the old minimum wage eh Glen!!!! :-)
I think I have to make minimum before I can get around it...
|
| 645.5 | | ACISS1::BATTIS | pool shooting son of a gun | Thu Feb 08 1996 16:42 | 2 |
|
the pension plan adds 1% of your base salary a year, not 2%.
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| 645.6 | | ACISS1::BATTIS | pool shooting son of a gun | Fri Feb 09 1996 09:39 | 7 |
|
Glen, while I have not yet read or seen the new twist in the plan.
(maybe today?) you make it sound to good to be true. Also, I would
rather be able to invest the money as I see fit. 7 1/2 percent or so
sucks. I can turn that money into 15-25 percent on my own, with no
problem. but, I can't comment on everything you said until I get this
package or letter or whatever from Dec.
|
| 645.7 | | WAHOO::LEVESQUE | memory canyon | Fri Feb 09 1996 09:50 | 9 |
| >Also, I would rather be able to invest the money as I see fit.
Then join SAVE, and the contributions will be your own* and the
responsibility for the investment will become your own. * note that the
company will match 1/3 of the money you put in, up to 2% of your yearly
salary.
The pension is 100% funded by Digital. That's why they control the
investments.
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| 645.8 | | ACISS1::BATTIS | pool shooting son of a gun | Fri Feb 09 1996 10:30 | 4 |
|
doc, I'm in SAVE already, that is what I had in mind when I was talking
the 15-25% return. save is great, wish the company would have matched
the 2% a couple of years ago.
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| 645.9 | | LANDO::OLIVER_B | mz morality sez... | Fri Feb 09 1996 10:35 | 1 |
| past performance does not guarantee future results.
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| 645.10 | | ACISS1::BATTIS | pool shooting son of a gun | Fri Feb 09 1996 10:39 | 2 |
|
well Oph, that statement could apply to more than just mutual funds.
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| 645.11 | | ACISS1::BATTIS | pool shooting son of a gun | Mon Feb 12 1996 16:01 | 3 |
|
well I have decided that the new plan is better than the old, at least
for me.
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