Would You Stay with Merck for the Pension?

Discussion in 'Merck' started by Anonymous, Jun 20, 2009 at 6:38 PM.

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  1. Anonymous

    Anonymous Guest

    Seriously considering leaving but understand the pension benefit is hard to beat- if it is still around when I retire- assuming I don't get laid off between now and 65.

    Should I stay for the Pension benefit alaone?
     

  2. Anonymous

    Anonymous Guest

    How old are you, makes a BIG difference, old fart.
     
  3. Anonymous

    Anonymous Guest

    Under 50, no.
    Close to 60, maybe.
    64, yes.
     
  4. Anonymous

    Anonymous Guest


    Should you stay? No- there are enough idiots in Merck without counting you. If you would really base your decision on anything that is posted here I guess that Merck really has gone down over the years. Ask your financial advisor, ask your CPA, ask your spouse but do not ask CP! Of course, this probably was not a serious post to start with....
     
  5. Anonymous

    Anonymous Guest

    You have definitely come to the right place for solid answers on extremely important topics such as retirement.....CafePharma!!!
     
  6. Anonymous

    Anonymous Guest

    The short answer is no if you are not close to retirement. There is a calculator that will give you an idea of what the pension will be worth based on several assumptions, including expected salary increases and age at retirement. You can use that to help calculate the NPV of staying vs. leaving (assuming you know the benefits of the alternative) or at least the present value of the pension to evaluate other offers. Of course, there are many intangibles that are not as quantifiable as salary, bonus, 401k, and retirement, but this might help you get started in thought process.

     
  7. Anonymous

    Anonymous Guest

    The pension was worth it to me to stay. Left before 60 and received 1 million plus in pension lump sum. Rolled over to IRA.
     
  8. Anonymous

    Anonymous Guest

    Dude! If you got out with a Pension before 60 and did that well--that is Great!
     
  9. Anonymous

    Anonymous Guest

    What!
    If I get to the ten years without being downsized the calculator says I'll be lucky to get close to the lousy 12K a year when I'm at retirement age.
     
  10. Anonymous

    Anonymous Guest

    I call BS on this. Merck calculates it's pension according to years of work and % of salary. The only ones pulling in that kind of $$ are senior VPs and former CEOs.
     
  11. Anonymous

    Anonymous Guest

    I know of one guy who has several years left before retiring. He's just going to coast through the next few years and collect. He laughs about it to us all.
    Meanwhile, the company hemorages.
     
  12. Anonymous

    Anonymous Guest

    My information on the pension over 1 Million is correct. I worked for 28 years I was not a CEO or VP. This does not include the large 401K that I accumulated as well. I of course was part of the rule of 85. Number of years plus age to calculate retirement.
     
  13. Anonymous

    Anonymous Guest

    No reason to lie. See my response later. Don'tmean to brag just providing facts on what you can accumulate after 28 years.
     
  14. Anonymous

    Anonymous Guest

    It depends on what you see when you look in mirror.
     
  15. Anonymous

    Anonymous Guest

    Is it even possible to make it 28 years these days? Those days are over! I am in my thirties....thirty more years at Merck......impossible!!
     
  16. Anonymous

    Anonymous Guest

    I agree with you on this. No matter how hard you work and awards you get, the chances of you being able to stay even ten or fifteen years are very small. Today's pharma world is shaky at best.
     
  17. Anonymous

    Anonymous Guest

    NO, just take it into consideration.
     
  18. Anonymous

    Anonymous Guest

    I'm over 50, worked for 14 years, took severance last year, lump sum $about 450K.
     
  19. Anonymous

    Anonymous Guest

    If staying for pension your reasoning is all wrong. it either won't be there or you wont get it anyway as you expected because anyone can see that those over 49 and even if successful if at higher salary and tenure were gone. So they don't get full benefit of last five years of pension value anyway....merck wins again. Do the work because you believe in the company, products and people leading the change...if not then............
     
  20. Anonymous

    Anonymous Guest

    The company is sadly not the same as it was when I started, the products are old and nothing in the pipeline.....and leadership....???