For retirees or those who are past the age of 55, what was your net pay raises in last 10 years, what do you estimate as the net value of the retiree health insurance?
4 replies (most recent on top)
Yes insurance has gone to he-l. I left before 55 and got a new job with better health insurance. Exxon has gone downhill for the last ten years. Raises were non existent for me and i was told i had reached my full potential. I took my lump sum and my 401k and let my finacial guy run my money. I made 15 percent every year since then. When I hit 59.5 I will retire and start drawing some ira money. Exxon su-ked and is getting worse every year.
What you should be forecasting is the loss in current benefits if you stay to 55. Guaranteed to be less lucrative than what is offered today.
@b1 is 100% correct. Expect a continued decline, probably accelerating as well.
Definitely do not base your expectations for the future on what was done in the past. Treatment of employees continues to worsen. Benefit cuts have been nonstop for the past 15+years