Thread regarding IBM layoffs

Nabisco workers on strike ...

They want to reinstate their pension plan taken away in 2016 .Now are only receiving 401k.
I wonder if IBM employees would consider that ?

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Post ID: @OP+1cAvQpFp

15 replies (most recent on top)

IBMers should unionize, but most are delusional that they’ll make rank one day.

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Post ID: @4ojg+1cAvQpFp

In my benefits it says what my payout is for pension plan. Are you saying IBM cancelled that? Why would it still be in there if so?

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Post ID: @2npo+1cAvQpFp

new employees (let face it, most on this board are mid-to-late career), don’t want to stay at IBM or 30 years. I retired last year with my 401k in great shape. I doubt the pension plan would have done better. But, if you want to go on strike, that’s your choice. Good luck.

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Post ID: @1tyu+1cAvQpFp

Pension Plan Advantages

The main advantage for employees in pension plans is that this is extra retirement income from your employer. An employee does not need to contribute to a defined-benefit pension plan in order to start receiving consistent payouts upon retirement.

401(k) vs. Pension: Which Is Better?

When considering a pension versus a 401k, most people prefer the certainty that comes with a pension plan.

But for those who seek more control over their retirement savings and more investment vehicles to choose from, a 401(k) plan could be the more advantageous option.

In the case of the 401(k), it really depends on how well the investments perform over time. Without the safety net of "guaranteed income" that comes with a pension plan, a poorly performing 401(k) plan has a direct effect on a retiree’s nest egg.

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Post ID: @1dvh+1cAvQpFp

Being tied to 1 company for 30+ years with the hope of a payout pension would be betting all your chips on 1 company.

Remember IBM and the 7 dwarfs. Any of them still a player?

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Post ID: @1nqy+1cAvQpFp

Even if IBM reinstated the pension plan, IBM may not be around in 30 years for employees to retire from.

Also, kids don’t want to stay at the same company for their whole career. They want greater control of their careers.
They rather get RSUs at one company, then jump to the next new thing company for better pay & environment and more RSUs.

Also you can have greater control of your investments.

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Post ID: @1tin+1cAvQpFp

Nabisco's next product:

Resource Thins

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Post ID: @1baq+1cAvQpFp

Contrarian view: I retired this year, a few years shy of 57, and I was able to do so precisely because I have control over my own 401(k) and IRAs [well, within the limits of IRS regulations, anyway].

I've talked to a number of other people who wanted to know how I could afford to retire young (my kid hasn't even started college yet), and through the course of that I've come to believe that a corporate pension plan is not the great thing nostalgia makes it out to be. First, it gives the employer even more power over you and what terms you can retire on - as if having them be the source of your salary and your healthcare wasn't enough already. Second, it puts you at risk of all the things we often complain about here: companies underfunding the pension, or selling it off to somebody who doesn't manage it well, or even a company going bankrupt and taking the pension fund with it.

The idea of a corporate pension belongs to a world where there was mutual trust and loyalty between employer and employee, where you might work for one company for life and be proud of that fact. That world is long passed.

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Post ID: @1zro+1cAvQpFp

If we had any brains we would.
We know bluebirds will bend the knee like the mask wearing sheep.

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Post ID: @1coh+1cAvQpFp

There is zero chance IBM will go in reverse when it comes to the pension. That fight is way in the rear view mirror. Now exiting the “old” pension plan via a Sale to prudential might be in IBM’s future as it’s all about efficiency.

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Post ID: @imi+1cAvQpFp

Next IBM will unburden themselves of its existing pension obligations.

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Post ID: @rol+1cAvQpFp

Who cares old timer. This is a layoff board. Post this nonsense elsewhere.

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Post ID: @uxu+1cAvQpFp

Do you mean the spineless wonders that refused to fight back in 1999 ?

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Post ID: @bfu+1cAvQpFp

Nope. They would hire everyone and replace them with sub-par personnel. Oh wait, that's what's going on now. Nevermind.

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Post ID: @vxo+1cAvQpFp

No gas because of the Hurricane, now no cookies. Terrible.

seriously, doubt they have a chance.

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Post ID: @qcq+1cAvQpFp

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