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Author: jerigh Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75539  
Subject: forced retirement? Date: 3/9/2000 11:39 PM
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my best friend is becoming paranoid about his job. he says they are documenting him as they do before firing someone. i told him he was behaving in an un-foolish manner and that he should just enjoy his time
there. he could have retired using his company's (Hughes Electronics just purchased by Boeing) "magic" formula last year. he's been there over 25 years and he's 2 years over 55.

he says no-that if they fire him or even lay him off they probably can take his pension from him-the part the company put in anyway.

is this true? should he quickly retire to protect his pension?
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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 19985 of 75539
Subject: Re: forced retirement? Date: 3/10/2000 4:11 PM
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Greetings, Jerigh, and welcome. You wrote:

<<my best friend is becoming paranoid about his job. he says they are documenting him as they do before firing someone. i told him he was behaving in an un-foolish manner and that he should just enjoy his time
there. he could have retired using his company's (Hughes Electronics just purchased by Boeing) "magic" formula last year. he's been there over 25 years and he's 2 years over 55.

he says no-that if they fire him or even lay him off they probably can take his pension from him-the part the company put in anyway.

is this true? should he quickly retire to protect his pension?>>


Tell your friend to rest easy. It's virtually impossible to deny him anything he's in which he's vested within his retirement plan(s) up through his date of separation. Some plans do have a moral turpitude clause that provides for those convicted of outrageous crimes to be denied benefits, but they just can't be taken away arbitrarily. Unless he's guilty of massive theft or of raping a fellow employee or the like, his benefits to date are protected.

Regards..Pixy

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