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<blockquote data-quote="vantexan" data-source="post: 3095279" data-attributes="member: 24302"><p>Yes, a lot of companies screwed their employees switching to cash balance plans or just 401k&#039;s.&nbsp; I&#039;m not talking about UPS, I&#039;m talking about how FedEx handled their traditional pension plan.&nbsp; We were sent out nice glossy material every year telling us how much we&#039;d get when we retired, including in 2006, right before they announced in early 2007 the plan would cease May 31st, 2008.&nbsp; Why does that matter?&nbsp; Major corporations have long term planning offices that develop these things years in advance.&nbsp; These aren&#039;t spur of the moment decisions.&nbsp; If you were hired in 2003(if I remember right) or later you were automatically put into the portable pension so you would&#039;ve never got to choose.&nbsp; And it was very official, not some mgr playing games.&nbsp; All of us under the traditional pension got a packet outlining our choices.&nbsp; And those who chose to voluntarily go into the new plan didn&#039;t get the extra 4% makeup credits annually for 5 years that they gave those 40 and over when they forced us into the new plan.</p></blockquote><p></p>

[QUOTE="vantexan, post: 3095279, member: 24302"] Yes, a lot of companies screwed their employees switching to cash balance plans or just 401k's. I'm not talking about UPS, I'm talking about how FedEx handled their traditional pension plan. We were sent out nice glossy material every year telling us how much we'd get when we retired, including in 2006, right before they announced in early 2007 the plan would cease May 31st, 2008. Why does that matter? Major corporations have long term planning offices that develop these things years in advance. These aren't spur of the moment decisions. If you were hired in 2003(if I remember right) or later you were automatically put into the portable pension so you would've never got to choose. And it was very official, not some mgr playing games. All of us under the traditional pension got a packet outlining our choices. And those who chose to voluntarily go into the new plan didn't get the extra 4% makeup credits annually for 5 years that they gave those 40 and over when they forced us into the new plan. [/QUOTE]

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