Thursday, April 28, 2005

When can you retire from Lockeed?

From Anonymous:

At LANL/UC when you reach 50 you can retire if you have 5 years of service (to get medical too you need 10 years). Very very nice benefit for people who came from other companies.

Conversely, Lockeed makes you work for ever!

From rip2003.pdf (google "rip2003.pdf sandia"):

You are eligible to retire with a service pension when you meet both the
following
minimum age and term of employment requirements:

Minimum Minimum Term of
Age Employment
Any age 30 years
50 25 years
55 20 years
60 15 years
65 10 years

I was planning on retiring at 50. With Lockeed, I will have to work 10 more years before being eligible for retirement. Yuck!


Comments:
To the politician and D.C. b'crats that is substantially comparable.
 
Perhaps you can spend your 10 years learning how to spell

LOCKHEED
 
Now, now. Spelling flames should be reserved for the end-game, not the early moves.
 
Geesh, your plan to retire at 50 sounds awefully WHINY. In fact, all of you on this blog sound AWEFULLY WHINY.
 
Well now, 9:38. Each and every one of us "on this blog" may well indeed be WHINY. In comparison, you come across as, let's see, what's just exactly the right word to use here.

I know: immature.
 
9:38, is that "awefully", as in the whining commands awe? Or is it "awfully", as in the whining is unpleasant? Whichever of the two you meant, they are both spelled awfully. No such word as "awefully".
 
By God I'm a scientist and I can spell! Gotcha, Ha.
 
It is disturbing how many people out in the "real world" are maliciously attacking LANL employees who are near retirement age (with decades of service to our nation) and are concerned about their medical benefits and pension. The fact is that most people at LANL made purposeful decisions many years ago to move away from friends, relatives, and conveniences to come to a high-cost-of-living area in a relatively remote part of our nation. In many cases we passed higher income opportunities to affiliate with a great scientific institution and what it offered for true meaningful research. At this late stage of our careers options for moving to a new employer are somewhat limited and starting tax-deferred savings-based retirement plans (generally unavailable in our early careers) is not a plausible option at this point. The bottom line is that we will carefully review the final RFP, most who are 50 years of age and older with significant years of service will probably have to leave. The nation will prematurely lose a treasure chest of hardworking technically sharp men and women. Those who choose to leave will survive, have a lot less stress, and re-discover that there are FUN aspects to life...much like WORK at LANL use to be years ago. But the attacks on LANL employees from outside the Laboratory have answered one question; we now know who the REAL "whiners" are.
 
Nah, 5:23, just a HS grad.
 
When you are 70 years old and living off your pension and medical benefits,
who do you want to place your trust in, Lockheed/DOE or the UC system?
That's the key point. All the rest, regarding pay-out amounts and the
earliest possible dates for retirement, are just noise.
 
"Anonymous said...
When you are 70 years old and living off your pension and medical benefits, who do you want to place your trust in, Lockheed/DOE or the UC system?"

I only trust myself to meet my needs for my retirement. The pension would be very nice, but I'm planning to be okay if bad things happen to the pension.

I don't think it's realistic to think that UC, DOE, Lockheed, or the Government really cares about anyone as individuals, or taking care of anyone in thier retirement, regardless of the 'promises' any of them made now or in the past or the laws on the books.
 
LANL's benefits used to be comparable to those of other universities and to those of federal workers. The fact is that benefits of all workers have been under attack for the last 20 years, more or less, in the United States.
In Europe, most employees get 6 to 8 weeks of vacation. In China, the retirement age is 55. In Italy and Sweden, any woman with a child gets a pension to help support that child.
Americans are the hardest working people in the world and are now being told that since they will live longer, they will have to work longer.
LANL has been a wonderful refuge from the harsh treatment suffered by American workers in other places. It seems that this is about to end even at LANL.
It is sad to see one last bastion of decent benefits for employees fall. I have recently retired. My heart goes out to my friends who aren't old enough to do so.
 
I'm amused by the assumption that the increase in retirements is being attributed to Nanos. Look at the demographics department wide - this has been coming for a long time - any review of the age and experience levels throughout the system have warned about this for some time.

Yet sadly, we have spent the past decade attacking each other instead of focusing on building the next generation of scientists.

We can blame it on everybody else, but at some point, this is our legacy too - is this really how we want to end our careers? With no one to pick up the torch because we were too busy finger-pointing and complaining about each other?
 
I don't believe the general LANL population is blaming ALL the retirements on Nanos. He is one factor; but, probably much more is because of DOE's micromanagement that is not conducive to research. We spend at least as much time filling out forms as we do on research.
 
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