National News
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AIG to Terminate Voluntary Deferred Compensation Plans
National News • November 14, 2008
American International Group Inc. said on Friday that it is terminating 14 voluntary deferred compensation programs involving 5,600 employees and independent agents and representatives. ...
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| Subject | Posted By | Posted On |
|---|---|---|
| RE: RE: RTFA | blah, blah... | Nov 19, 2008, 1:32 pm |
| RE: RTFA | Tom | Nov 17, 2008, 1:37 pm |
| RTFA | Ralph | Nov 17, 2008, 12:36 pm |
| A drop in the bucket. | Doctor J | Nov 17, 2008, 12:13 pm |
| Back to article | ||
Subject: RTFA
This is just screwing the employees. They've probably invested it long term. (Most people use their deferred comp like an addon to their 401(k).) They're going to take a hit on the investment when the plan is liquidated. (Because everything's down.) Then they have to pay taxes as ordinary income on the entire amount.