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Actually, I did look at those Herb.......... Posted by MI-Roger [Email]  (#882) [Profile/Gallery]
(more from MI-Roger) on Sat, 27 Oct 2007 15:24:55
In Reply to: I'm surprised that you haven't considered.........., Herb H, Sat, 27 Oct 2007 14:39:31 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Surprisingly, the health benefits are better where I am at and the monthly employee contributions are lower. The post retirement premiums would be lower with the new job, but if we switch to the wife's insurance before I retire the post retirement premiums will be lower yet.
I love Financial Analysis so I compared the value of my current pension combined with the future value of the new position's pension to the future value of my present pension if I stay put for another 14-1/2 years. They are remarkedly similar. The major diffference is that the new plan pension will require 6% of my pay, whereas the current employer's pension requires zero. One place has the benies computed into the pay, yet they are paid for with pre-tax employee contributions; the other keeps them out of the pay and are "free". The net result is the same.
The one BIG unknown is what will happen to each side of the equation in the next 15 years. Will my present private side benefits get squeezed enough to be less than the potential public side benefits? I can only guess at this one as I don't have a crystal ball. My guess is "Yes".
The new job is in the same field as my present job. I enjoy the work, but I do not like my present management team (and they are too inept to get promoted). My wife has a very similar situation with her employer. The uncertainty of the future with my present job is also a concern, but so is being the lowest seniority employee at a new organization.
I forsee no promotional opportunities where I am now, all internal promotion interviews suddenly stopped as soon as I turned 45. All promotions go to younger folks regardless of how little experience they have (I am trying hard not to sound bitter). I actually feel sorry for how these highly talented, but not yet experienced, employees are thrown to the wolves in a "sink or swim" job. Unfortunately, most of them sink and the entire organization suffers. A little more training prior to the promotions (or assigned mentors) would be a win-win for them and the org.
My immediate supervisor at the new job is slightly older than myself so a promotional opportunity may appear in 5 years or less. And other Depts there do similar work so there may be chances within those Depts too.
I haven't turned this offer down yet. The financial results were not what I expected prior to crunching the numbers. We will be looking at them again before giving a reply. The intangibles are tough to quantify, and the new outfit does expect a counter offer from me. I will wait to give a definite answer until after my 2007 health insurance premiums are announced on Tuesday.
Thanks,
posted by 68.40.14...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
, Fri, 26 Oct 2007 04:50:54, Sat, 27 Oct 2007 13:37:04, Sat, 27 Oct 2007 15:24:55 <-- Viewing This Message
, Fri, 26 Oct 2007 21:32:30, Sat, 27 Oct 2007 08:24:06, Sat, 27 Oct 2007 09:29:20, Sat, 27 Oct 2007 08:43:50, Fri, 26 Oct 2007 14:00:42, Fri, 26 Oct 2007 10:45:20
, Fri, 26 Oct 2007 09:19:20, Fri, 26 Oct 2007 06:41:20, Fri, 26 Oct 2007 06:20:16, Mon, 29 Oct 2007 09:02:27
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