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No. of Recommendations: 20
What are the chances this "great company" won't BE there in 18 years?

I'm thinking of other "great companies" like Eastman Kodak, Enron, Worldcom, Unisis - even the almightly General Motors, biggest and oldest automotive company ever - was on the brink not too long ago. If the "Let Them Fail" folks had gotten their way, well... Remember when AOL was THE internet service provider? When Yahoo was neck and neck with Google? How many companies have cried poor to congress and gotten out of all pension responsibilities?

Take the cash. Then it's yours. I think an index fund can pull 4.7% average over the next 18 years without breaking a sweat. Plus which if you die before 65 and you're waiting on that pension, your heirs get nothing.

Google "Companies that renege on pensions" for a few horror stories - here's one:

"Before United entered bankruptcy, she had been promised a monthly retirement check of $2,184. Givebacks arising from the United bankruptcy cut that amount in half — to $1,082, or $12,884 a year....

Our pensions were unfairly taken,” she said. Since the United bankruptcy, the company has done well, she said, and even remitted payments to PBGC, but she and her fellow workers are still going to receive less"

http://americawhatwentwrong.org/story/end-retirement/

Take the cash and run.
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