Benefits

Discussion in 'GlaxoSmithKline' started by Anonymous, Sep 11, 2013 at 12:25 PM.

Tags: Add Tags
  1. Anonymous

    Anonymous Guest

    I would be willing to take my chances!
     

  2. Anonymous

    Anonymous Guest

    The public sector union pensions are the ones that are underfunded. Google BMS defined pensions. The funding of their pension is easily found. Medical benefits can be pulled. Defined pensions can only be discontinued and stopped at a certain point in time. Unless the company goes bankrupt and they go unfunded. Big Pharma is not going bankrupt
     
  3. Anonymous

    Anonymous Guest

    Almost all private pension plans allow a company to change the deal at any time. If you spent more time researching the BMS plan that you think is so great, you would find out that they changed their plan midstream on people and many lost $$$$. Read this:

    http://www.cafepharma.com/boards/showthread.php?t=379752
     
  4. Anonymous

    Anonymous Guest

    Yah right Duffus, i get my information from Cafe Pharma! Do they offer information on investing too? Can't wait for that!
     
  5. Anonymous

    Anonymous Guest

    Retiree healthcare changes, let's get it right. For current retirees 65 and over they have the option to continue with the current plan. For those not yet Medicare eligible, employees and retirees (<65) will move to the new plan. The company currently pays about $5600 for the Medicare gap coverage, this will move to a contribution of $1500, this is a 70%+ reduction in the subsidy. The new plan requires the employee to shop for a Medigap policy; moreover, these do not provide prescription coverage which needs to be purchased under a Medicare Part D plan at an additional cost. As long as you are healthy the new plan will not add much cost. If you get sick however it is a significant disadvantage. If the new plan was as wonderful as presented why not offer an option to continue with the old plan. The company will save significant money, that is fine but it should have been done on a more balanced basis and provided a softer landing to those retirees near age 65. GSK should give more considered thought when it needs to break a social agreement with its retirees.
     
  6. Anonymous

    Anonymous Guest

    First of all, the company contribution varies based on years of service and maxs out at 20 years. Secondly, you have not compared the real out of pocket. Third, the primary benefit has always been the coverage before 65. Medicare covers most after 65, and the subsidy will cover most of the gap insurance. Most companies have tossed this benefit, so be grateful you have something.