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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
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Pension - Lump Sum Buyout Offer
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<p>[QUOTE="anonymous, post: 6327706"]It depends. You're correct that JNJ's pension does not do lump-sum payouts, but it can also depend on your legacy OPCO. For instance, I'm J&J but was hired on through the Pfizer acquisition. PFE worked a deal with JNJ whereby the portion of the pension earned at PFE would be sent over to JNJ (at the time both companies had somewhat comparable plans). So if I somehow miraculously last past 55 with JNJ, I could elect to take the PFE-portion of my pension as a lump sum.</p><p><br /></p><p>But to other's posts - yes it's just an algorithm where they have figured out how to pay you less than the actuaries would say that you'd earn without taking the lump sum[/QUOTE]</p><p><br /></p>
[QUOTE="anonymous, post: 6327706"]It depends. You're correct that JNJ's pension does not do lump-sum payouts, but it can also depend on your legacy OPCO. For instance, I'm J&J but was hired on through the Pfizer acquisition. PFE worked a deal with JNJ whereby the portion of the pension earned at PFE would be sent over to JNJ (at the time both companies had somewhat comparable plans). So if I somehow miraculously last past 55 with JNJ, I could elect to take the PFE-portion of my pension as a lump sum. But to other's posts - yes it's just an algorithm where they have figured out how to pay you less than the actuaries would say that you'd earn without taking the lump sum[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Johnson & Johnson
>
Pension - Lump Sum Buyout Offer
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Pharma/Biotech Companies
>
Johnson & Johnson
>
Pension - Lump Sum Buyout Offer
>