55 employees reported this benefit
They have a pension plan
5.5% of salary and bonus put onto an account that the employee does not contribute.
This is a deferred benefit. I would prefer higher base pay than pension.
It would be better if the plan were based on years of service and not age. Age takes away the company incentive to hire older employees.
The fact they still offer a pension is great. It is calculated so that if it is combined with your 401k your retirement will be funded.
one of the few that still does this
Southern Company is one of the only companies that has a pension and 401K benefit plan.
They still have one with multiple formulas based on years of service. Requires 5 years to vest.
Needs 5 years for vesting
Excellent Pension plan and a 401k with matching up to 6%