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Nice Letter from Employer of long ago "Mega-Corp"
Old 10-18-2014, 11:39 AM   #1
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Nice Letter from Employer of long ago "Mega-Corp"

Left "Mega-Corp" like 15 years ago , before getting my last job at "Mega-City".

Got a letter , advising that I will be eligible to start collecting retirement benefits on next birthday , with detailed instructions on how and when to start the application process.

Kind of surprising , I left them 15 years ago . The business unit I worked at doesn't even exist anymore. Hat tip to the corp. HR folks.

Going to draw from both "Mega-Corp" and Mega-City" plans, together a fraction of last paid work, but enough to meet basic living expenses.

The non-cola "mega-corp" monthly retirement check is not much , but will cover the retiree cost portion of medical insurance.

“The finance industry is 5% rational people and 95% shamans and faith healers.” - Charlie Munger
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Old 10-18-2014, 11:47 AM   #2
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I think corps are required to send notifications out to last known addresses. My megacorp recently sent info out about lump sum options on a pension frozen in 2000. I have several friends who left the company in 1995 during a huge RIF. They all received the notifications. 2 of the folks had reached age 55 previously - and had received letters from the megacorp about qualifying for early (reduced) pension a few months before turning 55.

Retired June 2014. No longer an enginerd - now I'm just a nerd.
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Old 10-18-2014, 06:56 PM   #3
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We don't move often but so many people do, I wonder how they find them all.
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Old 10-19-2014, 02:08 PM   #4
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One of the mega corps I worked for kept sending me letters about my deferred pension eligibility for almost 30 years after I left them. The division I worked for was spun-off into a separate company a few years after I left, and then some years later it was bought out and merged with a competitor.

Over the years, whenever I moved, I'd always fill out the "form" and send it in. I was always surprised they kept their records straight and to be honest, I never thought I'd see anything from my deferred pension with them. To my surprise, a few years ago they offered a cash buy out, which I took. I don't get any letters from them anymore.
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Old 10-20-2014, 09:34 AM   #5
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My Megacorp sent me a letter saying their DB coverage was up from 91% to 97% (based on the windup method). I was so relieved! They had made a large cash contribution as mandated by the government. I have been collecting monthly for 22.5 years. Hope to add another 20 years...was I ever a bad deal for them!
For the fun of it...Keith
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Old 10-20-2014, 12:35 PM   #6
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My first Megacorp is still sending me pension buyout offers more than 15 years after I left there, so I know they know where we live!
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 10-23-2014, 04:23 PM   #7
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Monthly Check (Direct Deposit) # 425 is scheduled to arrive a week from tomorrow. They do tell me yearly what the COLA will be (or not be).

Vietnam Veteran, CW4 USA, Retired 1979
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