Who else is seeing a DELAY in their PFIZER LUMP SUM check?

Discussion in 'Pfizer' started by Anonymous, Nov 24, 2014 at 5:12 PM.

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  1. Anonymous

    Anonymous Guest

    I am ex-Wyeth, I put in a decade of work a while back, and got a packet in the mail back in August for early pension distribution option. I chose LUMP SUM early payout for rolling over to my IRA. Filled everything out by the book, sent everything in by October 7th as requested, and was expecting payment earlier this month.

    I just got off the phone with Fidelity, and now I am getting the sob "story" that Pfizer payment is "delayed" until December. Seriously?! Anyway, I asked to speak to a supervisor at Fidelity and he claimed his hands are tied. And moreover, that I am not the only one complaining. Their call center is getting bombarded with ticked off ex-Pfizer employees who are each losing out on $$THOUSANDS$$ of market gains. Because everyone's lump sum amount was "fixed" at a set price back in August. I guess Pfizer decided now wants to ride the latest bull market wave with OUR money. I mean, just based on the last 2 weeks of market returns, I have probably left a cool 10 GRAND in gains on the table. Conservatively speaking.

    Anyone else caught up in this sh!t-storm?
     

  2. Anonymous

    Anonymous Guest

    Just what else would you expect from this outfit. The only ones who are going to make money on your money is Pfizer. Uncle Frank is gonna make sure of that. He's a genious at finding ways to cut costs for Pfizer and make money for them. Don't you know his bonus of millions is dependent on how much he screws us all.
     
  3. Anonymous

    Anonymous Guest

    Do not blame Fidelity. This is the game Pfizer plays as to float that pension money and take the earnings. All calculated to minimize the losses that they incur paying out these lump sums. You can choose to be angry, but let it go. You will get your money eventually. Think about it, it is a gift that most corporate workers will never see. I know you say you are owed it, but believe me, you are way ahead of 90% of people in this country that will never see a dime for a pension. When you get your check, celebrate, invest it wisely, and buy yourself something you always wanted. And most of all, propose a toast to Big Blue and say "Fuck Em'.
     
  4. Anonymous

    Anonymous Guest

    Retired 12/31/2011
    Received my lump sum check in March 2012.
    Be sure to check your outside mailbox closely. It looked like a junk mail letter. I almost threw it away.
     
  5. Anonymous

    Anonymous Guest

    And for people taking the annuity instead of the lump sum....don't worry, you can trust Pfizer to always do the right thing, keep it fully funded and ensure a care free retirement when you are done with Pfizer. Sleep tight.
     
  6. Anonymous

    Anonymous Guest

    For god's sake don't take the PFE annuity. If you're going the annuity route (which I don't recommend) get the lump sum and buy your OWN annuity...
     
  7. Anonymous

    Anonymous Guest

    Right on.
    I retired in 2008 and my finance guy advised me to take the lump sum. I now "control" my pension pay out, not Pfizer.
     
  8. Anonymous

    Anonymous Guest

    I retired 3 years ago, took lump sum, making a very nice income off of it and still have the amount I started with and if I die tomorrow, every penny goes to my heirs - no muss, no fuss. When you add in Soc Sec my income is 75% of my base when I retired.
     
  9. Anonymous

    Anonymous Guest

    Most amusing. You don't control anything. You're at the mercy of the stock and bond markets. Your nest egg could be trashed any day...........
     
  10. Anonymous

    Anonymous Guest

    Can always put the money in a CD and get 1%

    or

    Buy your own annuity


    or


    Trust Pfizer like the workers at Pan Am and TWA plus countless other companies who stopped funding pensions or declared bankruptcy-let the Fed take it over and get 50% of what you thought you'd get.

    Your choice.
     
  11. Anonymous

    Anonymous Guest

    How do you know what he did, as the next poster notes.
     
  12. Anonymous

    Anonymous Guest

    And Pfizer could change the rules anytime they please.
    Either way, it's a gamble
     
  13. Anonymous

    Anonymous Guest

    Where do you think pension funds have their money invested??? ALL pension funds are invested in the market. Look at your state government pension fund. Hell-look at Pfizers pension fund-where do you think they keep the money, in a mattress?? The key is diversification. Here's an idea-take the annuity, and since you have such faith in Pfizer-have all you 401K money in company stock as well as any RSUs and stock options. That's the way to go.