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We're you laid off shortly before your retirement

Last post Sep 12, 2005 1:31 PM by Morningdove_Wa . 6 replies.


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  • We're you laid off shortly before your retirement
    So, you don't get to collect your full share. I have a friend that had two years to go for early retirement and this happened to her. She will only get 1/3 her just due. It's just not fair. Did this happen to you?
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  • RE: We're you laid off shortly before your retirement
    Oops, I put an apostrophe. in were.
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  • RE: We're you laid off shortly before your retirement
    This happened to me with my pension through the company I was with. I fought it. And I won. Could never believe the excuse they gave me for terminating me. They came in and said we are going to let you go. I asked for a special meeting and looked at them and said For what reason? They said because I did not talk or was friendly to my fellow workers. I gathered all them together and we went in again and confronted the boss and they all said that is not true. Long story short, they admited I was 6 months from my pension being 100%. So I got rehired. As sad as it is alot of places do this.
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  • RE: We're you laid off shortly before your retirement
    Thank goodness, hasn't happened to my DH or I--he hit early retirement age this year and it is freeing to know that he's 'safe' at this point, and that if he walks in one day and the place gets to him, he can turn right around and walk out (he gets 6 weeks vacation time, so he really could leave on the spur of the moment).

    However, let me tell you what happened to my sister. She went to work, while she was in high school, for a home center. It was a fairly substantial chain at the time. She worked her way up, and was the first woman in the company in management. She was a hard worker, almost never took time off, was always willing to travel when they wanted to send her from one store to another--often commuting over 100 miles a day. Then her company was bought out by a large, well-known company. They bought this company specifically so they could dessimate it and use it as a tax loss. On the way down that road, they emptied the pension fund. Dsis, now in her 40's was laid off, an given an ONE TIME payoff of her pension of $16,000. Her pension was part of her benefits, she'd worked for the company for over 25 years, she counted on having that income when she retired. And what did she get? Enough to live on for about 6 months, if she were very, very, very frugal. So now, she's in her 50's, walking miles every day, delivering mail, not able to quit her job for many, many years, because she HAS to get a pension from somewhere. And I will NEVER buy light bulbs or appliances from that corporate thievery company ever again in my life.

    I do hope your friend hasn't lost her pension when she lost her job. Sadly pensions, and even a lot of other retirement savings like company-run IRA's, etc are NOT as well protected as most folks think they are. There are a lot of pitfalls, and it behooves all of us to keep our eye on our investments--particularly when they're being held and managed by others.
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  • RE: We're you laid off shortly before your retirement
    How about 2 months before retirement. Just happened to someone we know. Has contacted a lawyer.
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  • RE: We're you laid off shortly before your retirement
    She would have retired at 56. Now, because of being laid off two years early, she only get 1/3 what she should have. She is taking risks by buying repo houses fixing them up and reselling them for a profit. Actually, she has done quite well. She's made $130,000 on two houses and is planning on buying another one this fall to do during the winter. Of course, you have to pay cash for them.
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  • RE: We're you laid off shortly before your retirement
    That sahould read $130,000 on each house. I didn't find that proof reading.
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