Do new hires still get a pension and 401k or will they have to choose one.
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100 percent up to 6 percent the additional 3 percent is a metric based Bonus, never did I ever think the union would agree to a performance based bonus, so the new guys will run around trying to keep their numbers and then bonus
VZ switched from giving employees an 80% match on the 401K AND a pension. Newer hires do not get a pension, but they get a 100% match on their 401K.
If they're permanent employees they get it all.
New hires get retiree benefits, but no pension.
At the rate the country is going with social medicine there is not much need for companies to offer health care to retirees. In 20 years this healthcare picture will look so different from what it is now.
Just heard that new hires will have no healthcare when they retire and 401k is their only option. I think Verizon did ok in this one.