I worked for a small-to-medium sized manufacturing company (around 100-120 employees) from 1983 to 1991, a slow economic period in general, but particularly for engineers. Not long after I started working there, the owner of the company, well-off but pretty tight-fisted, informed workers that raises of any kind were out of the question for the foreseeable future, but he instead implemented an ESOP (employee stock option plan) into which he would put retirement funds for each of us on an annual basis. Woohoo!Upon leaving in 1991 – 7 years after he graced us with the “you get no raise but you get an ESOP plan” news – the value of my ESOP account was around $180. It took 6 months for me to get that distribution, which I could have rolled over into an IRA. Woohoo again! I paid the 10% penalty, cashed the check, and took my wife out for a really nice meal. I remember joking with her at the time that he could have just reached into his pocket on the day I resigned and handed me my “retirement.”Karma being what it is, maybe it will catch up with guys like that.
i am better off than most i have two piggy banks full :)-but i don’t worry because all the politicians in DC have been looking out for me these last 60+ years and i know that when i retire i will get a guaranteed 6 figure yearly salary and a yacht and a million dollar home and a 6 million dollar book deal and a private jet and an awesome medical plan and personal body guards just like they all have because they really care about me and have convinced me that they are just like me and are doing everything possible to make my life perfect. and if i don’t get any of those things it is because i wasn’t deserving of it like they were!!!! LOLOLOLOLOLOLOLOLOLOL
@treesareus“After than GREEDY morons in Washington ripped it off!!”Yes. Social Security would be well in the black if none of the funds had been appropriated by politicians.
Argythree almost 8 years ago
Hey, that looks familiar…
GROG Premium Member almost 8 years ago
You and I will be working until the day we die.
dkoch59 almost 8 years ago
Pension plan? Those still exist outside of government jobs?
Sensiraj almost 8 years ago
The Republican plan for Social Security.
Raider Red Premium Member almost 8 years ago
I worked for a small-to-medium sized manufacturing company (around 100-120 employees) from 1983 to 1991, a slow economic period in general, but particularly for engineers. Not long after I started working there, the owner of the company, well-off but pretty tight-fisted, informed workers that raises of any kind were out of the question for the foreseeable future, but he instead implemented an ESOP (employee stock option plan) into which he would put retirement funds for each of us on an annual basis. Woohoo!Upon leaving in 1991 – 7 years after he graced us with the “you get no raise but you get an ESOP plan” news – the value of my ESOP account was around $180. It took 6 months for me to get that distribution, which I could have rolled over into an IRA. Woohoo again! I paid the 10% penalty, cashed the check, and took my wife out for a really nice meal. I remember joking with her at the time that he could have just reached into his pocket on the day I resigned and handed me my “retirement.”Karma being what it is, maybe it will catch up with guys like that.
Saddenedby Premium Member almost 8 years ago
i am better off than most i have two piggy banks full :)-but i don’t worry because all the politicians in DC have been looking out for me these last 60+ years and i know that when i retire i will get a guaranteed 6 figure yearly salary and a yacht and a million dollar home and a 6 million dollar book deal and a private jet and an awesome medical plan and personal body guards just like they all have because they really care about me and have convinced me that they are just like me and are doing everything possible to make my life perfect. and if i don’t get any of those things it is because i wasn’t deserving of it like they were!!!! LOLOLOLOLOLOLOLOLOLOL
UpaCoCoCreek Premium Member almost 8 years ago
That and a lottery ticket and we’re living on ears street… please don’t wake me up.
Maizing almost 8 years ago
@treesareus“After than GREEDY morons in Washington ripped it off!!”Yes. Social Security would be well in the black if none of the funds had been appropriated by politicians.
rroush Premium Member almost 8 years ago
Guess you can forget Hawaii.