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  • tooldtobank tooldtobank Nov 1, 2004 6:59 PM Flag

    Another benefit eliminated

    In previous years BBT stated to banks that they were courting "In addition to all of our other benefits, we will pay for health insurance for your employees when they have 25 yrs of service and are over 55". Unfortunately many older employees took BBT at their word.

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    • Exactly! This was information that current retirees used when making their decision to retire. How can any employee make inteligent decisions concerning their retirement when they cannot count on their employers to tell the truth?

      I have no problem with the bank telling me that if I retire after 1/1/05 they'll no longer pay my health insurance. I know this BEFORE I decide to retire. But changing the rules once the game has started (once I retire)is just plain dishonest. And for a bank that preaches honesty and integrity, I find this hypocritical.

      Just my 2 cents... YMMV

      • 4 Replies to charleytgriffin
      • Charley,

        Think you nailed the situation squarely on the head. Any company that promises a benefit to their employees for years of service and then changes the program after years and years of promises leaves some doubt in my opinion as to how above board and open they are.

        Bet the top executives will still get their's this year as they have in the past. The company could probably have easily cut the top 10 executives pay enough to cover the insurance benefits promised to their long time employees and retirees.

        From what I was told they tried to show how much the insurance costs had risen since 1995 until 2005. They forgot to mention how many more employees they had verus 1995. They have bought a bunch of companies and offered early retirement and other things to decrease employee counts since 1995, but that doesn't count.

        Just my opinion.


      • THANK YOU!!!!

      • I agree entirely with your message. What were
        they thinking or not thinking when they were
        buying all these companies, did they not know
        then the number of people they were bringing in
        to their benifits program and the effect that
        would have.Or were they just looking at $ signs
        and growth in revenue and not being honest with
        the very people that helped them meet the
        goals in the early years to survive. Lack
        of planning or common sense leads to unpopular
        shooting from the hip. Growth with mergers mean
        more people and increased revenue. Do the math.
        This is just another case of their changing
        attitude toward long term employees, both
        retired and those still working.

      • <<<How can any employee make inteligent decisions concerning their retirement>>>

        Thank GOD Bush won. We are now going to have an Ownership Society where you leaches who expect EVERYONE else to take care of you are going to have to fend for yourselves.

        Cry�cry�cry�government and corporations won�t coddle me cradle to grave�cry�cry�cry!

        Cry�cry�cry�government and corporations won�t pay for everything..cry..cry..cry..I�m going to have to take full responsibility for my own life�cry..cry..cry�cry

        Thank GOD BUSH WON!!!!!

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