TOAK, The Thread of All Knowledge Part XIII

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#139681

07-26-2021, 01:17 PM

Imold

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Quote:

Originally Posted by nevada72

All of that. And I also factor that it may very well not be any better somewhere else. Not too many jobs are perfect. I at least have a great boss and decent pay and benefits. The fact that the business plan is doomed to fail is a concern however. It's not if, it's when. And then what happens to me when that happens? But I know they pay a health severance so I'll have some time to figure it out.

I'm sure the airline I worked at was in its death throes, but Delta bought it, end of worry. There's always hope till it's over.

#139682

07-26-2021, 03:36 PM

BARACU

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Quote:

Originally Posted by rizzo

Well Bob FWIW, I'm riding that train for another 6 months using the COBRA coverage from Cindy's former employer before she retired. I'd recommend that you very, very carefully review any medical plan cuz the one I have doesn't cover ****. In-network, out-of-network, blah, blah blah, they find some reason not to pay. If you're looking at drawing SS the non-covered medical can eat you alive with a lower fixed income. Plus if you draw too much income over the SS limit, they will ding your future earnings. Spend some time talking with someone very knowledgeable about early retirement and the limitations. Here's another consideration - Dad worked for Ford all of his career, when the company got in financial trouble his "lifetime" benefits were taken away. If the ship is sinking beware that they may toss you and your "package" aside.

If Cheryl is working and covered, you can probably get better coverage through her than the open market. I would guess regions are different and that may not be true but at the time we were shopping it was .... Good luck Bud !!

Heal up Mick.

My wife and I are on Medicare since she retired 6 years ago and were paying the normal $130 ish for Part B. The little "side business" my brother and I have had a really good year a few years ago. I received a letter from Medicare stating that because our income had increased for the prior year, we would be paying an additional $600 / month for the next year for coverage! I never knew it was on a sliding scale . We also carry the additional insurance through her teacher's union .which is outstanding. From my heart problems, the bills are in the neighborhood of $150,000 so far. To date it has cost me $80 out of pocket.....and I always bitched about the teacher's union.

#139683

07-26-2021, 05:57 PM

nevada72

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Thanks guys. I appreciate the insights. Whatever happens won't happen for probably 5 years. I was in a big meeting with all the bigwigs today and I got singled out as doing a great job so I guess they'll keep me around for a bit.

As far as my pension etc, I don't have a pension through this employer but I do have profit sharing and a 401K. They can't take that away and I doubt they would try. It's a massive company (you've heard of it) so even if my department gets scrapped, they will continue.

I also have 3 pensions through the electrical workers union so there's that as well. Not going to get rich off of retirement, but I hopefully won't starve either.

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