$377.92

[wvumaryjane]

Our hospital announced last quarter that they were converting our traditional retirement fund to a a 401 B plan. They said that they were going to start an independant 401 B plan for us to transition the money based on years of service and annual salary and this was a one time 'gift'

Baptist will not contribute in ANY way to that fund from that point.. Not employer matching for employee contribution by any percentage. That's it.. Build your own retirement and forget the retirement program available to you when you were initially hired at Baptist.

After 7 years of full time employment and countless hours of on call service to that hospital .. I was worth $377.92.

That $377.92 cents was put into a generic Met Life Mutual fund that NO employee had any say so about, and because the stock market was as pitiful as it was.. by the time December 31, 2007 rolled around, I've lost ground and I'm only worth $367.52 and it keeps going down.

I wish I could explain just HOW betrayed I am .. I can't even fathom how people that had put 20 years of service feel. did they get 700 dollars for this pitiful effort?

[mountaineerinpa]

WOW that is sad for an employer to do that.

[dehayes35]

That's completely horrible!! I'm sorry. I'm VERY lucky in that area. I've been employed by a small company for 6 years now they have (with zero contribution on my behalf) contributed into my SEP account that is around $30k, and that is with two bad years with them contributing nothing! When they do contribute, it's about $12k per year.

[smurph]

Unfortunately this is the wave of the future. Being self-employed fro 20 years, I had no retirement plan. Now working for Cook Co. I have a pretty nice retirement fund, but I've only been here 2 years. I need to be here at least 10 years, which I will eventually.

[BumpCityWV]

Another sad development these days is your retirement with a company is not safe either. Many companies here in south central WV (coal) are filing bankruptcy just to get out of paying any retirement. Then switching names/CEO & Board and the company and starting non-union. With the worker to start retirement all over again on their own.

[wvumaryjane]

When I first moved down here, I worked for a private practice as an office nurse. There was a profit sharing fund and a seperate mutual fund that they soley contributed to after the first year of employment. I was there for a little over 3 years and when I left, I had almost 5,000 between both funds. So this was TOTALLY a SHOCK for me.

It is a trend, I am aware.. and its VERY sad that hard working middle class people are getting screwed by corporate America. I voted today for the candidate that I think is best prepared to fight for middle class working stiffs like me. He doesn't have a snow ball's chance in hell to make it to the White House, but I believe in his platform.

Things need to change and they need to change 7 years ago.

Talking heads are toying with the fact that we are heading toward a recession.. I think this is LAUGHABLE... We've been in recession for at least 3 years now, and headed for depression..

[smurph]

It is important that American citizens start to fight back against corporate America. These bastards keep taking more and more and wielding more power over the politicians who supposedly run our country.

[wvfiredawg]

My dad worked in the coal industry for 30 years. He made pretty good money when he was working, but when he retired he got a lump sum payment of about $30,000. That's why I remain in public safety. Health & Dental Insurance, 2 weeks sick leave per year, up to 5 weeks vacation, 12-15 paid holidays, + they'll count 4 of my 6 years in the military toward my retirement. So after 21 years of service I can draw 70% of my salary for the rest of my life. I work my 2 24 hour shifts every 8 days for the retirement & insurance and then make my monopoly $$$ in real estate. ;D