Pension over tuition

[MindeMalcomson]

Greetings,

I am graduating with my ADN December 11th and have had 2 interviews and 1 job offer so far. My husband is leaning towards the hospital that offers a lower tuition reimbursement and a pension plan verses the hospital that offers a very huge tuition plan and a 401 B. I am almost 50 so I understand that a pension plan is very important.

What is your opinion?

Thanks

Minde Malcomson

[nurseactivist]

A defined pension benefit is not the same thing as a 401, 403. Most of the defined pensions are in the public sector. You must know how long it takes to be vested. Vesting lengths have recently increased in many places and can be up to 15 or 20 years. At 50, I would be thinking about retirement options.

[Jolie, BSN]

Benefits don't mean much if you are unhappy with your job.

I encourage you to thoroughly evaluate both jobs first. Only if you find them comparable in terms of likely satisfaction, should you allow benefits to enter into your decision.

Good luck to you!

[brandy1017, ASN, RN]

I wouldn't count on the pension to last! Most hospitals have eliminated or froze their pensions and I'm sure more will do the same. Also many hospitals are Christian non profit and have church pensions which are a joke because thanks to govt and it's war against workers it allows church pensions not to pay into the Pension Guaranty Insurance so if they close or go bankrupt, voila the pension is gone! It is not worth the paper it's written on.

Honestly a pension gives someone a false sense of security. It would be smarter to save for retirement on your own from the beginning and if you are truly one of the lucky few that has a real, reliable pension that lasts to retirement LOL then you will have bonus money. It used to be if you were retired already your pension was sacrosanct and they couldn't cut it, but the govt and supreme court have changed the rules and now allow this also! It is happening already to many different retirees from govt workers look at Detroit to multi-employer retirees as we speak. Not to mention the abuses going on where years later the pension committee decides they have overpaid people and then demand back the difference (thousands) with interest! These poor retirees on a fixed pension who had no real way to know they were getting the wrong amount now having their pensions cut sometimes reduced to nothing to make up for these so called overpayments!

[Jules A, MSN]

It would be smarter to save for retirement on your own from the beginning and if you are truly one of the lucky few that has a real, reliable pension that lasts to retirement LOL then you will have bonus money.

Excellent advice for everyone!!