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Subject:  Re: Help! Retiring ahead of schedule Date:  10/6/2000  4:19 PM
Author:  TMFJeanie Number:  25337 of 100126

In my experience, most companies (especially big ones with public images to protect) that get involved in downsizing/merger/acquisition - any activity that eliminates employees - will enhance the retirement benefits of those people who get "sacked".

Thanks for your comments, bhirs. While his company never had a defined benefit pension plan (new age company), they do have profit sharing and the 2000 contribution hasn't been made yet. Since my husband was a key contributor to that company's profits, we're expecting the distribution to be generous ;-) However, that money is deposited into his 401(k) and we don't want to tap that for some time. Additionally, there was a portion of the acquisition price set aside for all employees in the form of a stay-around bonus. To prevent a mass exodus prior to the new company taking over, I guess. At any rate, we're hoping to make that bonus stretch as his replacement income through much of next year (she said optimistically <g>)

I would advise your husband to call his HR Manager

Good advice and already done. The immediate concerns are when benefits run out, i.e., medical coverage, etc., and making sure to get the proper replacements.

Thanks so much for your helpful thoughts.


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