Raytheon Rehiring Retirees while they are paid benefits and money Waltham Massachusetts

For those who have defined benefits plans, pension funds can't be paid before someone either is terminated or reaches normal retirement age. Many employers retire someone and then rehire them to satisfy this rule, but it's risky, because IRS regulations have never precisely defined "termination" of employment. Some also hire retirees as consultants, but the penalty for not abiding by the IRS definition of an independent contractor is high and more certain than in the past.

Also, many pension calculation formulas are heavily based on earnings in the final years of employment. Such formulas are likely to discourage participation in phased retirement programs. And while some companies would like to re-hire retired employees, to comply with ERISA (Employee Retirement Income Security Act) they have to limit the number of hours retirees may work. And they also have to enforce waiting periods before rehiring retired employees. So it's not easy.


http://www.nolo.com/article.cfm/objectID/3BE13B50-D693-44AA-B3332888DC526A6B/111/259/173/ART/

http://www.prounlimited.com/resources/need/print/PharmaceuticalExecutiveMarch2004.pdf#search='Retirees%20&%20loss%20of%20benefits%20&%20Microsoft%20&%20IRS'

http://slashdot.org/articles/00/12/12/239258.shtml

And I am not saying they always do it, it just happens an awful lot.

of not treating retirees or contractors different from employees.

Not posting my information as it is dangerous. Checkout: http://www.gis.net/~larrabee/raytheonwatch.htm.

These statements are very true. There is more that I have chosen not to disclose at this time, some of them quite bad, and puts our entire country at risk in my opinion. I have nothing to do with the link above, and have never posted anything there, and I can assure you it is all true, and rather understated.

Hiring a retiree back as a contractor while they are drawing retirement benefits is legal.

If your comments were right, then there would be no way a retiree can supplement their income because according to you they can't work while drawing a retirement.

With the problems with Social Security that are coming that would mean every retiree would need to go on welfare when the money runs out.

You must have been a screw up employee when you worked with Raytheon because you are filing a lot of complaints and don't even have the nerve to give your name.

Just because you obviously were a crappy employee let it go.