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Old 03-26-2007, 03:24 PM
anson2995 anson2995 is offline
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Join Date: Sep 1999
Location: Upstate NY
Posts: 2,738
Quote:
Originally Posted by Phlosphr
I do not think a company can not give you your earned pension even after a gross insubordination. It's your money you put into it, or it's written into your contract that you are entitled to said amount.
Many companies had self-funded pensions, in which the employee never made any contributions. The benefits became vested based on years of service. This type of plan was offered as a benefit to employees, and encouraged them to stay with the company for a long time.

This used to be popular because it helped a corporations accounting. They could keep salaries low and count pension disbursements as an expense, not a benefit. In the long run, though, it costs real dollars. Companies like GM have been driven to the brink of bankrupcy by the spiraling costs.