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Just Received Copy of MegaCorp's 2008 EBSA/ERISA Filing...
Old 09-28-2009, 04:16 PM   #1
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Just Received Copy of MegaCorp's 2008 EBSA/ERISA Filing...

MegaCorp just sent me a copy of the 2008 savings plan summary required by the Employee Benefits Security Administration (EBSA) of the Employee Retirement Income Security Act of 1974 (ERISA) - try saying that fast 10 times. Anyway...

Down over 36% for the year 2008.

Still has more than $1.5B for a little under 15,000 of us in "management". Of course, most of us are not yet receiving any benefits - not retired just yet.

Wonder what the 2009 summary will look like. I bet there are some retirement savings plan specialists in HR on the hot seat at the moment.
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Old 09-29-2009, 03:44 AM   #2
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Hum so that looks like a $100K each. So if you all retired early and withdraw say 3.6% a year that would provide you each with a pension of $300 month. I hear cat food is edible.

On the other hand if you could get rid of 13,500 of your co-workers before they retire that would set you up for a pretty decent pension.
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Old 09-29-2009, 10:50 AM   #3
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Hum so that looks like a $100K each. So if you all retired early and withdraw say 3.6% a year that would provide you each with a pension of $300 month. I hear cat food is edible.
clif, what does a funding level of 90% of the funds target attainment goal as determined by the IRS transitional rules, mean?
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Old 09-29-2009, 11:31 AM   #4
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I predict the 2009 report will look mighty good compared to the 2008 report.
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Old 09-29-2009, 06:21 PM   #5
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MegaCorp just sent me a copy of the 2008 savings plan summary required by the Employee Benefits Security Administration (EBSA) of the Employee Retirement Income Security Act of 1974 (ERISA) - try saying that fast 10 times...
ERISA, to my mind, is the sweetest of gumment acronyms. Hang in there, jdmorton; my ERISA-mandated funding went up and down with the market for 30+ years. Had ERISA not forced my small business employers to include me in their retirement plans, I might have done something desperate like continue w*rking or oh, no, I cant’ look, I might have danced more seriously with MegaCorp.
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