Anyone being pressured to take a buy-out and retire where they work?

[NNN0LHI]

I can give you a little first hand experience about how this worked out from the place I retired from.

The first offer was the best. The second offer might have been a little bit more money but the medical benefits were not as good and every offer after after that one the amount offered went down considerably. First ones out received much better medical benefits than the bitter enders received.

I retired before the buy-out program began but I still know a lot of guys from the plant and that is how it shook out for them.

Figured some others out there might be going through something similar to this and may want to know how this worked out at my plant.

Don

[old mark]

1. K&R- Be very careful what you do with your retirement money! A friend of

my brothers retired after 20 years working for a larg manufacturing corporation and took a lump sum payoff...He was around 42, and worked for the same company since graduation from high school...he was in an apprenticeship program with that company in drafting for the last 2 years of HS.

He used his money to become a day trader in the stock market.

He was looking for another job after about 3 years because he was almost broke again, and in his 40's, with fading job skills and no recent employment record.

Invest your money carefully and keep a close watch on it.

mark

[bluerum]

2. Thanks for the info. Filed for future reference. Does anyone have additional perspective?

[glinda]

3. Husband took an early buy out/retirement. The Group before him

got a much better deal though. Make sure you have clarity on your medical and stuffs. They were not clear to my husband and we paid a lot of money each month in order to make up for when the benefits./medical ran out. Ouch! They ran out about a year too early.

[NNN0LHI]

4. I too would be interested in seeing how this has panned out for others?

[pacalo]

5. K&R.