Posted by Joe on 2/05/08

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Is there some minimum standard for employer
retirement/pension plans? I work in NY and am 50 years
old. My employer has a plan they pay for entirely. If I
work until I am 65 years old - a total of 18 years for this
employer with 17 year in this plan -- the amount I would
get monthly at retirement is approx $15.50 per month. That
is about 1.1% of my current monthly take home pay at $9 per
hour.

It doesn't seem that they should be able to call this a
retirement plan because there is no way that anyone could
retire on this amount - which will likely buy a couple
loaves of bread and maybe not even that!

Obviously, I can't afford to stay there, but it brings up
the question of if this really can legally be called a
retiremnt or pension plan.

Re: Retirement Plan, 2/06/08, by Curmudgeon.

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