69 employees reported this benefit
Rarely offered benefit these days
The pension plan better than not having one.
one of the fewest private company that still offered it
A employee vested after 5 years employment is given a pension that he/she can access and at the pay rate of the last year worked with the company can receive benefits at 3/4 of last base salary and combined with social security can provide some help with living expenses
5 years vesting period. Pension benefit based on years of service. (ie. 5 years of services = 5% last 12 months salary)
The program is very fair. It is complicated, but I think that is the nature of all pension programs. The plan is fully funded, which give us all a sense of security. Finally, employees can also participate in the 401k program, with employer matching, along with the pension! Most young people entering the workforce don't understand the value of this.