Retirement/Pension Info

I'll be in Sterling, "golfing" w/ ur wife.

 

hunh?? How much are you paying for your life insurance?? and how much coverage are you getting?

 

Great meeting with "customers". (Neither one of us play).

 

This board like the soap general hospital! Is that still on (watched it as a kid). What the heck does this all have to do with retirement info. -- LOL! Just an outsiders observation. WEIRD.

 

What does u having watched soaps have to do with ret/pension? lol, weird.

 

Well, b/c this board is all about drama and some of the stupidist threads that I've ever read. For retired people some (not all) act like teenagers. You all need to start working again or at least do something productive with your lives. I'll never forget that thread "A.I.D.E.S" - most asinine thread I've ever read. Even the 20 something reps on company boards make more valid points and discuss significant company issues. Now go play golf - LOL!

 

Please explain the comments. I am also a severed S/P employee. I wasn't "given" any life insurance with the severence package. I was told that the 1x's my salary life insurance ended at the severed date. I was given notice that I could take that policy and convert it to a personal policy but when I got the rate quotes for that $ coverage, it was more than I could afford. They quoted $890+ per quarter for life insurance. That was insane. I already had life insurance personally so I just didn't take the opportunity to convert the company one.

No one said that as a severed employee we get 1x's our salary life insurance -- Are you sure this is correct????

Thank you.

 

It was correct for me as I retired in 2008 under the Organon benefits. Initially they said I had 5,000 which was the SP benefit but I had to backtrack to the Organon HR department to get the correct benefit. The insurance is free but I get a W2 for the premium which is about 2,300.

 

ok the difference was when you left you left as a retired employee. I left as a severed employee. I didn't start drawing on my pension left. I will when I turn 60.

 

Just to make things clear here in PR, there are rumors that x emplyees from SP can request a lump sum one payment only of the pension, does anyone knows anything about? THKS

 

Right, I was OBS and OBS managed our benefits through 2008. The retiree life insurance is one year's salary that decreases 10% a year for five years then stays constant.

The coverage is free but you get a W2 for the premium they paid.

 

Can anyone tell me what Queen bee syndrome means? Mother Merck/L-SP seems to have a bad case of it. Thanks.

 

I just want to say, "Thank you, Uncle Fred"!

 

really - thanking Uncle Fred...?

For what - ruining this once fine company?

 

retiree health premium jumped from $240 to $266 per month, higher deductible, horrible Rx coverage,

who should I thank?

 

I received nothing from the "retirement benefit center" after my severance. I had to take it upon myself to call them.

 

Barack Obama