So when does the defined benefit pension plan get cut or changed?

Discussion in 'Johnson & Johnson' started by Anonymous, Jan 30, 2010 at 4:15 PM.

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  1. Anonymous

    Anonymous Guest

    The change to retiree medical was the first shoe to drop
     

  2. Anonymous

    Anonymous Guest

    This thread started in 2010 with doom and gloom and here we are rapidly approaching mid 2014 not a bad run for all.
     
  3. It is 2016 now. Nothing was frozen. I am 39 years old, have been in a company for 12 years. I would like to stay for another 25 years. What would my pension be, if I make now approximately 130k a year?

    I want to be able to have an income of at least 90k a year from my 401k, ss, pension.
     
  4. anonymous

    anonymous Guest

    First of all you will never make it another 25 years. Use the calculator to determine your pension which could change should the company.
     
  5. anonymous

    anonymous Guest

    This response is very accurate. Almost no one at your level will make it another 25 years. J&J does not recognize loyalty and unless you are a diversity employee, you are sure to be a target for layoff. You will be sacrificed in spite of stellar performance and replace with a younger minority employee. If you elect to stay with J&J and not venture out to other organizations, know you are doing this with great risk. Consider yourself informed now and make the choice that's right for you. Best of luck.
     
  6. anonymous

    anonymous Guest

    Your response is rather strange. In my department we have many people who started in their 20ies, right when they have graduated their Master or PhD programs and they are now in their mid 50ies and still plan to work for another 7 to 8 years. When I walk on my floor I see a lot of banners with anniversary figures rangin from 20 to 35 years. So, staying 30 years with a company is very much possible, especially in my department. Within 12 years that I am here, no programmer or statistician were ever laid off, some left on their own. But if worst comes to worst : I have no complaints , j&j paid for my two master degrees and if I am let go after let's say 20 years in a company, I will easily find another company to have carrier for 12-15 years. I would never leave j&j voluntarily , benefits are too good and outweigh additional 10-20 k dollars I can squeeze from another job.
     
  7. anonymous

    anonymous Guest


    This is not an axiom. People who are not a diversity workers are reaching a tenure of 20, 30, 35 years easily. You have to demonstrate great performance . If your job is essential in drug development then you stand a great chance of making it to 30 years of service. So, young man, do not listen to disgruntled former employees, stick to your guns, stay out of dirty politics , perform well and you will be laughing all the way to the bank when you are 62.
     
  8. anonymous

    anonymous Guest

    Just my input: I have been with a company for 22 years. Making over 140k. Never felt being a target for layoff. Still have another 9 years to go before retiring in Florida.
     
  9. anonymous

    anonymous Guest

    I have been with the company more than 30 years. I am a target everyday. All of my friends have been pushed out . Another got pushed out this week. It is just a matter of time.
     
  10. anonymous

    anonymous Guest


    What department are you in? 30 years is a long time. After 30 years I will have no expectations.
     
  11. anonymous

    anonymous Guest

    Phd's for people is not the norm in any industry except education.
     
  12. anonymous

    anonymous Guest


    Nonsense. Many positions in J&J are not attainable unless you have a PhD.
     
  13. anonymous

    anonymous Guest

    For the exception not the rule.
     
  14. anonymous

    anonymous Guest

    Oh my.... If you are 39 you have almost no chance of retiring here. Sorry to drop the bad news on you. JNJ is must craftier these days on managing the pension by having frequent downsizing of the aged and aggressively managing that population out of the organization. When your 39 turns to 49 the bullseye will me illuminated on your chest. Again, sorry but that is the facts.
     
  15. anonymous

    anonymous Guest

    What a croc of shit. I hope we fired your ass for such a bigoted statement. All downsizing has be be done in an objective manner. If you have good performance and lost out some else minority or otherwise had better performance than you. Move on and take you lumps. Perhaps Donald Trump will make American Great Again and find you a job in Russia.


     
  16. anonymous

    anonymous Guest

    Can someone explain the changes in the pension plan that became effective in 2015? I worked for 9 years with the Cordis franchise until 2011, but now I have the chance to come back to work with J&J. I understand rehires will be subject to the new pension plan calculation. Can someone explain the difference?
     
  17. anonymous

    anonymous Guest

    If I was hired in 1982 would I have to have worked 5 years or 10 years to have been vested?
     
  18. anonymous

    anonymous Guest

    5 years
     
  19. anonymous

    anonymous Guest

    Recently received a postcard with information from JnJ that they are offering the opportunity to employees that left the company (and approaching 55) to receive our pension NOW as a lump sum payment (regardless of age) vs. waiting until Iā€™m ready to begin receiving my pension either on a monthly basis or as a lump sum. A 'retirement kit' should be mailed out within the next week or so and I have between 10/24 and 11/25 to decide whether or not to take the lump sum. I'm assuming that they don't want to manage it anymore and that's why it's being offered now, but knowing JnJ, there's got to be some other BS reason why. Has anyone else received this postcard? What's the real story?
     
  20. anonymous

    anonymous Guest

    The deal is they are trying to get out of their pension obligation to you on the cheap. They wouldn't go to the trouble to offer you cash now unless it was a long term financial win for them.