ABBOTT PENSION RETIREMENT

Don't know about the others out here, but after a bit over eleven years (Abbott rounded it to twelve) I get just under $2K a month. Only others I know who get a pension worked for government. I am happy with it...pays some bills.

$12K a month does seem like a lot. Requires a very high salary.[/QUOTE]


The large pension numbers may only apply to long tenure employees who chose to leave their retirement assets in the ORIGINAL pension plan. That plan required employee CONTRIBUTIONS (this was before IRAs and 401ks) to get the max company benefit and was in effect until around 1980, as I recall. I chose to let that balance ACCRUE and be added to the non contributory plan. That's how I got up that number. Yes the old plan cost me part of my income (as I recall about $750 a year) but with company contribution (much more) than this it accrued at over 6% per annum average until today. BTW company tried to get me to 'cancel' this plan but I refused and left it there to grow and grow.

 

The large pension numbers may only apply to long tenure employees who chose to leave their retirement assets in the ORIGINAL pension plan. That plan required employee CONTRIBUTIONS (this was before IRAs and 401ks) to get the max company benefit and was in effect until around 1980, as I recall. I chose to let that balance ACCRUE and be added to the non contributory plan. That's how I got up that number. Yes the old plan cost me part of my income (as I recall about $750 a year) but with company contribution (much more) than this it accrued at over 6% per annum average until today. BTW company tried to get me to 'cancel' this plan but I refused and left it there to grow and grow.[/QUOTE]

Cool! Makes your retirement easy.

Happy with my $2K. I have no debt and a lot saved, no financial worries. I read about these people my age who have saved less than $100K for retirement. Don't know how they will get by, not enough.

I am using the MetLife retiree dental care. I pay about $1100 a year for my wife and myself and it is worth it.

 

Abbott to end retirement defined benefit plan?

 

Given that companies in this industry have ended the retirement benefits I would think that at some point in the future Abbott will do the same. I assume those who have earned the benefits will keep them, new hires will just not be offered any.

 

We just received the annual Pension Protection Act (PPA) pension plan funding information for Abbott-Abbvie yesterday. The government requires this information to be documented and distributed every year. As of the end of 2016, the Abbott-Abbvie pensions are 149.05% funded. I'd say we're in pretty good shape!

 

Those of us who already have it or got in our 10 years. Abbott can stop offering this to new employees anytime. Just look at what happened with the Hospira spin off.

 

Millenials don't deserve a pension.

 

Hey that's a microagression! Where is the safe space, wahhhhh.

 

In AP14 by the pancake griddle.

 

Of course, right next to the flock of seagulls.

 

Do St Jude and Alere employees get pension?

 

Yes.

 

No

 

and that cloud is moving nearer still... Aurora Borealis comes in view. ICE ICE BABY TO GOOO TO GOO.

 

I got laid off, still kept my abbottbenefits 401k with all my free Abbvie stock, and ABT stock with reinvestment, and it's makin $$$$$ hope you guys that got laid off didn't cash out. Up 20% since last april!

 

Just like a bit of feedback from the other Abbott retirees. How good is the UHC Retiree Indemnity with Medicare plan. Seems like a Medigap-F plan with part D. Cost about $200 a month, just trying to determine if it is worth the cost.

 

I've had UHC Retiree Indemnity with Medicare Plan since 2010, no problems, hasn't missed a beat. Though, my premium is ~$120 each month. It might have to due with number of years of service at retirement though.

 

No idea what my pension will be when I'm an old man, but all that ABBV stock I got from being 100% invested in ABT is paying BIG now creeping on 100, thats my gravy train as long as Dick don't mess it up.

 

I did a start up before Abbott. Worked real hard and got laid off after three years. But made over $1M in options. Made a bit on Abbott options and RSUs. Unless you are management Abbott does not pay real big with stock....just don't get many.

 

You pushed him?