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hettielady
Joined: 29 Nov 2003
Posts: 161
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Posted: Fri Nov 06, 2009 9:24 pm Post subject: 2008 Form 5500 Schedule SB, Defined Benefit Actuarial Inform
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Some of you number crunchers will find this interesting I think. It's found under the Pension Info from the 88sears site and was posted Oct 2009. Looks like they missed a plan contribution this year, and the 2009 numbers are much smaller than 2008 contributions. Can someone translate?
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allhandsabandonship
Joined: 28 Apr 2005
Posts: 2073
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Posted: Sat Nov 07, 2009 10:24 pm Post subject:
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The report is specific to the plan year 2008. My guess is the two payments made during 2009 were adjustments. Payments for the current year won't show on this form, until next year.
I notice a high number of "terminated vested participants". It seems not too many people are making it to retirement at SHC these days.
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USA#1
Joined: 04 Jul 2003
Posts: 2078
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Posted: Sun Nov 08, 2009 1:17 am Post subject:
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| allhandsabandonship wrote: |
The report is specific to the plan year 2008. My guess is the two payments made during 2009 were adjustments. Payments for the current year won't show on this form, until next year.
I notice a high number of "terminated vested participants". It seems not too many people are making it to retirement at SHC these days. |
Yep. I'm vested but not of retirement age and they are "letting go" a number of people so I guess they don't have to pay out as much.
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allhandsabandonship
Joined: 28 Apr 2005
Posts: 2073
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Posted: Mon Nov 09, 2009 5:23 pm Post subject:
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| USA#1 wrote: |
Yep. I'm vested but not of retirement age and they are "letting go" a number of people so I guess they don't have to pay out as much. |
You've got it. When the company is totally focused on short term financial gain, it's to their advantage to get people out of the "active participant" category as quickly as possible or keep them from ever qualifying for retirement benefits to begin with. The best solution is to hire nothing but teenagers who aren't likely to stay around long enough to ever get any retirement benefits. All those millions in contributions to pension expense is money out of Eddie Lampert's pocket.
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