You know they have already worked this as a cost savings plan. What will it take to finally make the corp pull the trigger?
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@1rgc sir this is a literal complaint forum.
Denbury and Pioneer people were promised pension participation. Ain’t going away jusssst yet. In time though, of course it’s a relic. Cut it and give that dough to your investors.
@1rdn You shouldn’t be giving up your life to your employer to begin with. It’s a job, not a calling.
If you don't think think this will eventually happen you are kidding yourself.
They will pay out the folks vested and cut off any new participants. That's how things like this work. It happens. What do you think happened at all the other companies that once had pensions?
The new workforce is not enticed by a pension when they don't see it as attainable.
EM will follow rest of Corporate America soon and provide defined contribution plan (enhanced 401K) vs defined benefit plan (pension). When you are squeezed out or leave, the Company cuts ties completely and has no further obligations. Coming soon....
Pension not going away. You can’t cheat people into giving up their lives to the Company playing bait and switch without the bait.
Multiple is currently 1.6
New hires don't work long enough to receive them, they need pension to attract talents so they won't axe pension for experienced hires. All in all, I think the pension is save. They might change the multiplier from 1.5 to 1.2 to lessen the cost.
Stop with the doom and gloom ,
It’s coming
Sadly, you could be right.