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CAE Inc. Message Board

turdleshale 5 posts  |  Last Activity: Sep 17, 2014 7:14 AM Member since: Sep 16, 2006
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  • Reply to

    Lump Sum Pension Buyout

    by turdleshale Sep 3, 2014 6:22 AM
    turdleshale turdleshale Sep 17, 2014 7:14 AM Flag

    Well, I received my offer and I feel it is an equitable deal especially when you compare today's dollars to tomorrow's dollars. My offer pretty much matched the 15 year certain life annuity under the old plan. I'm not 59 1/2 so I will have to roll it over into an IRA. I did expect the offer to be much higher, but obviously the actuaries know where the offer needs to be.

  • Reply to

    Lump Sum Pension Buyout

    by turdleshale Sep 3, 2014 6:22 AM
    turdleshale turdleshale Sep 15, 2014 7:53 AM Flag

    On the thumbs up or down, maybe you're right, but I disagree. It's a "Like" or "Dislike" indication, not one of subject knowledge or lack thereof. Years ago I worked for a company which was recently absorbed by FE and I never experienced a more cynical group, both supervision and labor. I know there are many who don't want to see others get something they don't. Sad, but true. It may end up being a low-ball offer, but I think that would be ignorant and a waste of time and money on the part of FE given the Internet information available on lump sum distributions. And, if there are eligible participants desperate for cash as you suggest, they've already had the opportunity pawn off their structured annuity. This is a move by FE to reduce pension liability. The cheapest way out is to make an equitable lump sum offer to the participant. Once that round is over FE will probably pay a third party to assume the remaining liability which is expensive, but it's off the books. At least we've breathed a little life into this otherwise dead message board. :)

  • Reply to

    Lump Sum Pension Buyout

    by turdleshale Sep 3, 2014 6:22 AM
    turdleshale turdleshale Sep 12, 2014 7:29 AM Flag

    Perhaps I should clarify. The lump sum buyout is being offered to former employees whose employment was terminated prior to January 1, 2014 and have not already commenced a monthly retirement. In addition, you cannot have a pending or finalized QDRO attached to your pension. This seems like a very narrow range of eligible individuals. Those giving me the “thumb down” are obviously not eligible and in turn jealous that they will not be able to take advantage of this potential golden opportunity.

    Sentiment: Strong Sell

  • turdleshale by turdleshale Sep 3, 2014 6:22 AM Flag

    Back on 06-09-2014 I posted a message kindly asking if anyone had heard about FE offering a lump sum pension buyout. No one replied, but I did receive 5 thumbs down for my post, and I'm not sure why? Anyway, I just received notification that FE will be offering a lump sum buyout to certain employees. Detailed information should go out in the mail next week and the participants have from 09-15-2014 to 10-31-2014 to make a decision. So, to those of you who gave me the "thumb down", turn it 180 degrees and shove it.

    Sentiment: Strong Sell

  • Reply to

    Chistletoe

    by drillmaster58 Jun 26, 2014 8:34 AM
    turdleshale turdleshale Jun 30, 2014 10:29 AM Flag

    This board is very dead. I figured Murray buying the WV mines would stir some action?

CAE
12.49+0.01(+0.08%)Sep 19 4:03 PMEDT

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