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Wow; not too many HNers are in a union, I'd guess. Next thing you'll be telling us is that you have a pension. Of course, if the company goes bankrupt, all be

Wow; not too many HNers are in a union, I'd guess. Next thing you'll be telling us is that you have a pension. Of course, if the company goes bankrupt, all bets are off. Or even if things get so dire that the company manages to claw back some benefits in the next negotiation. Seems unlikely though.

AeroEngineer 6y ago
I do have a very small pension benefit. They eliminated the pension for new employees in 2013, and the existing pensions were frozen sometime around 2016 or 2017.
dv_dt 6y ago
Boeing is one of the very few companies with an engineers union in part I think because of their practice on other times because of the hiring/layoff patterns that included engineering layoffs en masse - even in non pandemic years.
londons_explore 6y ago
This is Boeing we're talking about here... They won't be allowed to go bankrupt - they're a national symbol of the USA, and will get a bottemless-bailout well before bankrupcy.
ghaff 6y ago
You might be surprised how many above a certain age have at least small (defined benefit) pensions. People who work/have worked for government as well as a variety of $BIG_CORP. But pensions used to be pretty common among the larger tech companies of the day. I have one from a 1980s/1990s employer.(It was discontinued when they were acquired and I left shortly thereafter.)
- xeromal 6y ago
  When do pensions reside when a company disappears?
  - dayofthedaleks 6y ago
    The US federal government's Pension Benefit Guarantee Corportation is supposed to prop up the pensions of failed firms. https://en.m.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation https://en.m.wikipedia.org/wiki/Pension_Benefit_Guaranty_Cor...
  - ghaff 6y ago
    In addition to sibling comment, in my case, the pension is still administered by the acquirer of the acquirer (in this case Dell).
  - magicalhippo 6y ago
    Here in Norway, the most common form (90%) of pensions from private companies[1] is required to be handled by a bank, insurance company or similar institution[2]. I've got this. So each month my company pays a percentage of my salary to my pension account with the bank our company has a deal with. The percentage is part of my employee contract. This ensures my pension is still around if the company goes belly up, and my pension is protected as banks are required by law to buy insurance covering savings in case of bankruptcy. [1]: https://www.nho.no/tema/pensjon-og-forsikring/artikler/tjenestepensjon-privat-sektor/ https://www.nho.no/tema/pensjon-og-forsikring/artikler/tjene... [2]: https://lovdata.no/lov/2000-11-24-81/§2-2 https://lovdata.no/lov/2000-11-24-81/§2-2

AeroEngineer 6y ago

I do have a very small pension benefit. They eliminated the pension for new employees in 2013, and the existing pensions were frozen sometime around 2016 or 2017.

dv_dt 6y ago

Boeing is one of the very few companies with an engineers union in part I think because of their practice on other times because of the hiring/layoff patterns that included engineering layoffs en masse - even in non pandemic years.

londons_explore 6y ago

This is Boeing we're talking about here... They won't be allowed to go bankrupt - they're a national symbol of the USA, and will get a bottemless-bailout well before bankrupcy.

ghaff 6y ago

You might be surprised how many above a certain age have at least small (defined benefit) pensions. People who work/have worked for government as well as a variety of $BIG_CORP. But pensions used to be pretty common among the larger tech companies of the day. I have one from a 1980s/1990s employer.(It was discontinued when they were acquired and I left shortly thereafter.)

xeromal 6y ago
When do pensions reside when a company disappears?
- dayofthedaleks 6y ago
  The US federal government's Pension Benefit Guarantee Corportation is supposed to prop up the pensions of failed firms. https://en.m.wikipedia.org/wiki/Pension_Benefit_Guaranty_Corporation https://en.m.wikipedia.org/wiki/Pension_Benefit_Guaranty_Cor...
- ghaff 6y ago
  In addition to sibling comment, in my case, the pension is still administered by the acquirer of the acquirer (in this case Dell).
- magicalhippo 6y ago
  Here in Norway, the most common form (90%) of pensions from private companies[1] is required to be handled by a bank, insurance company or similar institution[2]. I've got this. So each month my company pays a percentage of my salary to my pension account with the bank our company has a deal with. The percentage is part of my employee contract. This ensures my pension is still around if the company goes belly up, and my pension is protected as banks are required by law to buy insurance covering savings in case of bankruptcy. [1]: https://www.nho.no/tema/pensjon-og-forsikring/artikler/tjenestepensjon-privat-sektor/ https://www.nho.no/tema/pensjon-og-forsikring/artikler/tjene... [2]: https://lovdata.no/lov/2000-11-24-81/§2-2 https://lovdata.no/lov/2000-11-24-81/§2-2