Early Retirement & Financial Independence Community - View Single Post - My Megacorp retirement plan changes

SteveR · 05-17-2007, 09:58 AM

Yep, that is the way things are going. No pension plans. More restrictions on 401Ks and "opt out as an additional task".

My current mini mega corp. has no pension plan...never did.
Has a 401K with Vanguard (Yea!) with a 50% match on the first 4% contributed.
No retirement program at all...no retiree medical insurance; no carry over of stock options (they expire the day you leave), no retiree life insurance, no nothing other than the 401K plan.

They just changed their stock options program (again) to eliminate it. No more ISO stock options starting this year. Not a big deal since all mine from the past 4 years are all underwater. They are replacing the ISOs with Restricted Stock...vests 50% every two years. This is an improvement from the ISO vesting period of 5 years but the tax treatment is different for Restricted stock vs ISOs.

They dropped their ESOPP progam two years ago.

They pay at the low end of the scale for similar jobs.

And they wonder why they can't keep good people.

05-17-2007, 09:58 AM	#4
SteveR Moderator Emeritus Join Date: Jul 2005 Posts: 2,674	Yep, that is the way things are going. No pension plans. More restrictions on 401Ks and "opt out as an additional task". My current mini mega corp. has no pension plan...never did. Has a 401K with Vanguard (Yea!) with a 50% match on the first 4% contributed. No retirement program at all...no retiree medical insurance; no carry over of stock options (they expire the day you leave), no retiree life insurance, no nothing other than the 401K plan. They just changed their stock options program (again) to eliminate it. No more ISO stock options starting this year. Not a big deal since all mine from the past 4 years are all underwater. They are replacing the ISOs with Restricted Stock...vests 50% every two years. This is an improvement from the ISO vesting period of 5 years but the tax treatment is different for Restricted stock vs ISOs. They dropped their ESOPP progam two years ago. They pay at the low end of the scale for similar jobs. And they wonder why they can't keep good people. __________________ Work? I don't have time to work....I'm retired.