Reader: What Will Happen to My WaMu Pension Plan?

Reader Comments
Add Comment

hideous!

the usual rich/greedy/unkind get richer, we get poorer/keep our dignity/kindness and then it's a wonder why there is such a burden on society. You can't tell me that much of my tax dollar has gone to those who survived the depression and lost their savings/health care plans, As well as the Vietnam war heroes who came back to nothing. Over the last 35 yrs. I never minded helping, but now that is not an option/reality as it is not for many anymore.
So --- we lose the tax dollars for assistance and create additional financial burdens for the rest. My pride has really been stretched, and now I know how it feels......do they have educational psychology for this...? It get's worse in a retirement home, when your'e really stripped.
Look out U.S. economy----here comes the next bunch. And boomers we are!
As many, I have just been wiped out, pension, 401K, and jobless....bailout??? where? who? why? when??
Still smiling ;)

Maxine Reimann Shearer of @ Oct 05, 2008 20:04:52 PM

Former WaMu employee until early 2008

I researched the WaMu deferred comp plan long ago. I found out that whatever pay (and yes you did earn it) you decided to "defer" for future payment was "not funded". Yes you heard me right, not funded! Therefore if the Bank went under since the money was "not funded" (set aside in an account for your benefit) you loose it. I remember about a year ago the Bank allowed you the opportunity to "cash out" your deferred comp. Why? Because Killinger and the rest of the thieves knew the Bank was in trouble, they all had millions in the plan, and wanted to get their money out before it was too late. Apparently WaMu never publically admitted the plan was “unfunded” - and you had to dig deep to find it. The whole thing is criminal. It’s like you work hard, save whatever you can for your retirement, and at the end get robbed while the CEO's etc. steal millions. What is wrong with this picture!!!

Bruno Rodrigues of CA @ Oct 04, 2008 03:00:07 AM

deferred income plans (WAMU)

This deferred income is income we earned and was set aside for our retirement. WAMU has suspended payments and retrieved the October payment. How can they do this. Why isn't this money in an anunity or similar type account for us? What are our legal rights? Should we get an attorney?

Richard L Smith of CA @ Oct 03, 2008 17:37:58 PM

Credit Card Balance transfers

I rec'd a balance transfer offer from WaMu for WaMu to carry the balance transfer at 0% until Jan 2010 with a small bal transfer fee. Although I have my doubts is JP Morgan Chase going to honor those offers or make new ones on its own???

Joel Lowinger of NJ @ Oct 03, 2008 16:57:22 PM

Back to blog

Add Your Thoughts Title Comment 3000 characters left

About You Name Email State

Reader: What Will Happen to My WaMu Pension Plan?

hideous!

Former WaMu employee until early 2008

deferred income plans (WAMU)

Credit Card Balance transfers

Planning to Retire

Money

Reader: What Will Happen to My WaMu Pension Plan?

hideous!

Former WaMu employee until early 2008

deferred income plans (WAMU)

Credit Card Balance transfers

Planning to Retire

Best of Planning to Retire

Subscribe

Money