WE have people posting on this board from eveywhere. Some are stockholders - You know the ones who own this company, some are VZ employees - Management and Union, Some are politicos with their own agendas and some are just plain against this company for their own reasons. Most are posting in a knee-jerk reaction to what others have posted and are Venting.
Does anyone have the WRITTEN WORD of this package? I think not. Seems like there are only bits and pieces, maybe even taken out of context. If someone has precise info then POST IT. If there is a formula then use it yourself, if you are an employee, to see how it affects you. Until then COOL IT. There is so much misinformation being tossed around By Union and Management people of VZ. The Devil's in the Details so to speak.
Me, I'm a recent retiree who owns 10K shares and still have a lot of friends both Management and Union and am hoping for the Best for them.
More BS info floating around. I was in a similar arguement a couple of years ago. The answer to a lot of comments on the Board is Look in your Benefits Book. Don't show me, Prove it to yourself where It states that your Retirement and Medical Benefits will stay in existance forever and can never be altered. All the complaining on a Message Board won't change the facts. You don't like it, no one really does. Look at your own alternatives.
if there is no more "retirement", how could they force you to hold on VZ stock 'til near retirement ?
also- anyone have a definitive on whether match is CASH (to put into funds of your choice) or matching of VZ shares ? although i've seen some posts saying it's shares...that isn't exactly what wording given....it says DOLLAR for DOLLAR. you'd think they would say "match of equivalent in vz shares" ...
"tuni88- You make a good point, But I didn't say all, I said "a chunk". The VZ 401k allows (at least it use to) for multiple changes with a choice of at least 10 different funds including some mentioned with Fidelity and Bond funds, pimco and others."
You are RIGHT ... Can work out well, if you choose the right investment ...
The extra .50 will be at the company's discretion, if they make the numbers. Well, after HAY and all the other incentive programs, we know they can make the numbers say anything they want them to say. If they give the other .50 in matching stock, they will surely take away all other bonus programs saying this replaces it.
Keep in mind all matching funds are in a stock that is continually shrinking in value. While some here post that it is a God send because of the dividend, you don't get the dividend in your 401K and some insist that this is a great long term (some say 10 years) investment, but not if your looking for growth that will fund a retirement.
The only thing anyone has gained is a slight increase in the matching funds, while most of the younger players lose their pension plans altogether. The 401K plan is a good portion of a retirement plan, but it will not be enough for most. They can't afford to save enough and still live and that puts ALL of their retirement funds at risk of market moves; it does not always move up.
It good to see people that know the truth speak up to those who would put out misinformation. No ones $1.00 for $1.00 match is worth a dollar today. That's just a fact, and no one has and most likely will never get $1.50, that's just a reality one has to understand and be prepare to deal with.
"The 401K MATCH is in DOLLARS and it goes into the INVESTMENTS SELECTED by the WORKER ... "
This statement is inaccurate... matching funds must stay in VZ until worker reaches 50 years of age.( At that time the rules permit investments selected by employee)