Posting this on the B1G forum because it has the most traffic.
Some of you may know that I work for a large multinational corporation and I also have a side business. I just passed the 20 year mark with my company, feels like a big whoop-dee-doo nothing to tell you the truth.
I'm currently 47, about to be 48 in a month. 20 years of service, I was checking my retirement benefits and to tell you the truth I'm not sure what I'm working for anymore. This is the last year our company will contribute to our pension, after 2023 they will not contribute anything more to our pension and instead put extra money in our 401K.
I have mixed feelings about this, mainly because they are changing the game on me 2/3rds of the way through. For the younger workers I can see how this will be a great benefit to them. They are also starting to count OT and bonuses in the contribution as well. Right now I'm sitting at about $500K in my 401, which ain't bad, but if they had counted my OT and bonuses through the years I'm convinced I would have closer to 1 MM.
At one time my company, like so many other large companies in past times offered great retirement benefits. They started backing these down in the 1980's and 90's, and now I don't think they offer anything at all beyond a company sponsored 401K plan. No health insurance options, no pension for anybody hired within the last few years, almost nothing.
The job I have now is somewhat low-level, but it is the best job in terms of work-life balance I have had in my whole career. I usually work about 40 hours a week, one day every two weeks from home, and every other Friday off. I make low 100's, but I've made 30-40K more in the recent past with overtime. I don't want that life anymore, and I chose this job so I would have more regular hours. But to tell you the truth the pay really sucks in my opinion, especially when you've got 20 years with the company and you know that you're only making maybe 20-30 more than most new hires off the street (I do have a degree FYI, but it's not necessarily a job that requires a degree).