Pensions Should Not Be Workers' Priority

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Does anyone esle think pensions are antiquated? Why should we waste bargaining clout on something that will never materialize or get bargained away? Big corporations such as the airlines are dumping pensions and this is being allowed by the gov't. Sure, some pensions are partially guaranteed by the gov't, but all these bailouts are a huge burden on the taxpayer. I say workers should negotiate/bargain for the highest possible salaries NOW and not depend on a pension that will cease to exist.

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Well I don't trust my employer to keep their hands out of my retirement dollars, for good reason. Recently a class action lawsuit was settled ( I was a member). I had several hundred thousand dollars stolen by HCA Columbia (the group that keeps changing names when it gets caught doing something unscrupulous)

I watched as the attorneys ate most of it up...I ended up with only a small percentage of it. :(

After that, I take no part in pension funds, preferring to go for the highest rate and invest myself.

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Specializes in Cardiac Critical Care, Trauma, Neuro..
Well I don't trust my employer to keep their hands out of my retirement dollars, for good reason. Recently a class action lawsuit was settled ( I was a member). I had several hundred thousand dollars stolen by HCA Columbia (the group that keeps changing names when it gets caught doing something unscrupulous)

I watched as the attorneys ate most of it up...I ended up with only a small percentage of it. :(

After that, I take no part in pension funds, preferring to go for the highest rate and invest myself.

I must say I agree. The much sought after pensions are not all they are pumped up to be. I would much rather invest my money myself. As stated above pensions are tricky and not guaranteed no matter what anyone tells you.

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Specializes in Nursing Professional Development.

I agree. I would rather be given "matching funds" to invest myself -- in a retirement account that would offer lots of options. Fortunately, all but one of my previous employers have had that. Only one employer had a traditional pension plan: so, it will represent only a tiny portion of my retirement income.

llg

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Specializes in Med-Surg.

My employer dropped their pension 10 years ago. They are saving money because they aren't matching very much in our Savings Plan. Although they are contributing some.

Plus after a lifetime of work, what's to stop them from firing you at end to save themselves paying out some of the pension.

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My employer dropped their pension 10 years ago. They are saving money because they aren't matching very much in our Savings Plan. Although they are contributing some.

Plus after a lifetime of work, what's to stop them from firing you at end to save themselves paying out some of the pension.[/QUOTE]

When/if the finances get tight, some facilities will try to force early retirements...to save them some $$.

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I've worked several places where this ocurred, sadly. :(

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Specializes in Med-Surg.

When/if the finances get tight, some facilities will try to force early retirements...to save them some $$.

.

I've worked several places where this ocurred, sadly. :(

That is sad. I've heard of that in other areas besides nursing/medical. Dreadful thing to do so people.

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whats wrong with us? we put up with this kind of crap after destroying our bodies lifting and caring for people our entire working life. we need to fight back!!!!

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whats wrong with us? we put up with this kind of crap after destroying our bodies lifting and caring for people our entire working life. we need to fight back!!!!

I have known many many single female nurses who have depended on that retirement money through the years. Historically, nurses have stayed in FT positions specifically FOR insurance and retirement benefits (at least those FT nurses I've known through the years)

To me it seems very unscrupulous for facilities to entice nurses on FT with promises of a pension that somehow gets watered down over a 25 yr period. Would LOVE to see some lawsuits...but these facilities are very good at covering their bases, I'm sure, with their own attorneys. :(

The thread about the corporate comment about 'marrying well' as the answer to retirement money for female nurses upset me too. Some criticized the nurses who showed up in wedding gowns to protest . I thought it was a good way to emphasize the problem. Hope the local papers got lots of pictures; and that the facility was properly embarassed.!!

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If you asked 100 people same age say 40, how many of them had done serious retirement planning, I bet the number who were not paying attention is pretty high. It is never to late to do pension planning but the earlier the better. Why am I bringing this up? Because in most cases if the employer or goverment does not do the planning it won't get done.

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