4 ms·
Seems like an $85k/yr pension should be more than enough to retire on.
by cgy1 8y ago
Seems like an $85k/yr pension should be more than enough to retire on.
- hinkley 8y agoRoughly $140 billion in GE stock-market wealth was lost in the past year GE has lost a substantial percent of its market cap this year. I wouldn't count on that pension sticking around for 30 years without being 'restructured'. And in 30 years it'll be worth $40k a year anyway.
- esturk 8y agoI know it was only 1 guy, and an extreme example at that, but he is 61. Getting 30 years is great. Most men won't get to 91. He can also consider early retirement at 62.
- ataturk 8y agoEveryone is trying to weasel out of their pension obligations. They made these promises to their workers--"If you work for less money, we've got you covered in retirement." It was a stinking lie.
- tspike 8y agoNo kidding, at a 4% safe withdrawal rate, that's the same as a $2+ million nest egg. That said, I think he's concerned that, given GE's trajectory, the pension will evaporate. What then?
- gascan 8y agoIt's already only about 70% funded, per the article.
- trimbo 8y agoIn dollar amounts: > GE’s pension obligations, nearly $100 billion at the end of 2017, are underfunded by almost $30 billion. Yikes.
- francisofascii 8y agoHe might look into buying pension insurance.
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- nugget 8y agoThis is all smoke and no fire. The article's subject complains about his account value falling from $280k to $110k in value, meanwhile his pension has a net present value in the millions. I'm surprised this made it by the WSJ editors.
- youpassbutter 8y ago> I'm surprised this made it by the WSJ editors. Why does that surprise you? Obviously the misleading and clickbaity headline will be chosen over the honest headline.
- solotronics 8y agomaking the assumption the pension sticks around through the next recession.. look at those who had a GM pension...