Pension Plan

defined benefit no longer offered

I applied online. The process took 2+ months. I interviewed at Con Edison in September 2017

I left after 6 years under cash balance pension, being 65 yrs old. My annuity/pension is about $260 per month, with 75% survivorship rights for my wife. A token, really. My 401k is on top of this.

It is a decent plan. However, it only gets good if you stay for many years, (20 to 30)

I was in an interview today. I was told that current hires (at least non-union) are eligible for a cash balance pension.

The pension is a cash balance formula. Your pension is calculated as a cash balance account that is credited at the end of each quarter with an amount equal to a percent of pay 4-7% depending on your age and Yeats of service. You don't get this benefit until after 3 years of service

The plan is not a traditional pension anymore..it is a cash balance which is a lump sum payment at.the end.of.your career

Provides a cash balance program that in addition to 401K and Stock Purchase Plan can yield a nice retirement nest-egg.

No pension plan. They still have traditional pension for people that were hire before 2001. No longer a traditional pension for new employee and hires hired on 2001 and beyond. Which makes it very hard to retain good talent.