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Author: PolymerMom Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75335  
Subject: Re: Can You Count on Your Pension? Date: 1/25/2004 1:29 AM
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In a word, NO.

I've watched the people who had their former-Monsanto pensions shifted to Solutia - now in bankruptcy proceedings.

Lately (and possibly earlier) all pensions have the disclaimer that says its at the discretion of the company to continue the program.

PBGHC is in big trouble as various companies declare bankruptcy and is in the hole for large amounts (billions). What you say is true, those who fall back on PBGC have lowered benefits. As I understand the proposed bailout (under generally accepted accounting rules change), many more businesses are being exempted from paymet to PBGC.

Given the current administration's predilection to eliminate public programs, I don't think I have a snowball's chance on collecting anything even vaguely meaningful on Social Security benefits. That's OK - since I planned for this in the late 60's. So long as my mother and mother-in-law can collect, I'm cool.

Through sheer unadulterated luck, we socked as much as feasible into our 401k's to reduce current income taxes over the last umpteen years. That's going to be the predominant, if not the only, retirement funding MDH and I have.
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