Hospital takeovers...what happens to employee retirement? Should I retire now or stay & maybe lose everything.
I need a lawyer maybe. I have worked at this hospital my whole life & now I'm 60 & planned to retire in a few years. The buyout will change the name of the hospital...I'm afraid I could lose what I accrued. The buyout info leaked to the newspaper...the hospital was upset. Should I leave or stay...will I lose my benefits?
Public Comments
- If you retirement is in a 401K or similar account. That money is your and always will be. Be careful. Al lot of 401K plans require a percentage be invested in the 'companies' stock. The value of that may fall to 0. Your pension held by the company may be lost, transferred to the new company or payed out to you. The new management company will probable lay most of the current staff off anyway. Look for the golden parachute, retire and try to get a job some were else or with the same place under the new management.
- Go talk to your financial advisor TODAY and if you don't have one now might be the time to invest a little money in that for the long run. Don't wait on what the hospital is going to do. That might be your downfall. Good luck!
