CIGNA Freezes Pension Plan

The emporers at the corporate monarchies continue to wring every penny out of all the little people. They will continue gorging on both their employees and the poor schmucks who have to do biz with them as long as they can, it is like a crack addiction.

In the good ol days being 'competitive' meant offering something better. Now it has come to mean the company lowering themselves as low as any other company dares to go.

I also know one of the senior partners at a Hartford lawfirm who helps these companies figure out how to cheat people out of their pensions.

Our country is losing its 'freedom' to these corporate emporers.

The $40 millions is needed to pay H-1B contractors.

Funny, a story about corporate greed, the funneling of every dollar to Executive compensation and the destruction of peoples dreams somehow end in an attack by a few cowards, bullies and rightwing nutjobs on state employees because we have maintained a modest pension benefit for current workers.

Well when your coporate masters finally drive your pay and benefits to the average amount of a third world peasant.

Ed Henway wrote:

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They changed their traditional DBP to a cash plan last year. Now, they are eliminating the cash balance plan as well and going with a straight 401(k).

Hartford or CIGNA?

Jenny wrote:

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Hartford or CIGNA?

CIGNA. Both plan types have been frozen (the DBP was still around for older employees).

What a Sham wrote:

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CIGNA. Both plan types have been frozen (the DBP was still around for older employees).

The Hartford froze the DBP and now has the cash balance plan. Newer hires since 2000 only had the cash balance plan which hasn't been around long enough to know if it's good or not so good.

Don't worry...soon all the Ins jobs will be in sunny Dubai.