Backroom88
Receiving_genius
- Joined
- Feb 5, 2015
- Messages
- 118
I have been with target for almost 13 years, do I qualify for pension? I know they did away with it a while ago just wanted to know if I’m in or not. Sorry if it has been asked!
Pension
- Thread starter Backroom88
- Start date
-
- Tags
- pension
- Joined
- Sep 25, 2017
- Messages
- 2,019
As far as I know, Target doesn't offer a pension plan. You can contribute to a 401(k) though and the company matches a certain percentage.
gsa4lyfe
Always here
- Joined
- Jul 31, 2017
- Messages
- 3,474
Pension Plan
Team members meeting minimum service and hours requirements who were hired prior to 2009 at stores or headquarters or hourly team members working in a distribution center location hired prior to January 1, 2017 are generally eligible to participate in Target’s Pension plan.
Payment options differ depending on whether you participate in the Traditional and/or Personal Pension Account plan, and may include a single lump sum or lifetime income stream. You are not required to begin any payment from the plan until the year in which you reach age 73*(unless your total plan benefit is $5,000 or less).
If you have earned a pension benefit, information will be mailed to your home address approximately 30 days after your retirement date. If you have earned a Supplemental Pension Plan benefit, an estimate of this benefit will also be included with your pension information.
For more information, please contact the Target Benefits Center at 800-828-5850, or use the link below.
Team members meeting minimum service and hours requirements who were hired prior to 2009 at stores or headquarters or hourly team members working in a distribution center location hired prior to January 1, 2017 are generally eligible to participate in Target’s Pension plan.
Payment options differ depending on whether you participate in the Traditional and/or Personal Pension Account plan, and may include a single lump sum or lifetime income stream. You are not required to begin any payment from the plan until the year in which you reach age 73*(unless your total plan benefit is $5,000 or less).
If you have earned a pension benefit, information will be mailed to your home address approximately 30 days after your retirement date. If you have earned a Supplemental Pension Plan benefit, an estimate of this benefit will also be included with your pension information.
For more information, please contact the Target Benefits Center at 800-828-5850, or use the link below.
- Joined
- Jan 8, 2016
- Messages
- 108
Also, if you go to Targetpayandbenefits.com, you can see vested percent ages, projected pay out, etc.
- Joined
- Jun 11, 2011
- Messages
- 2,770
happygoth
reshop till I drop
- Joined
- Apr 17, 2019
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- 5,003
Because they weren't sure if they were grandfathered in based on when they were hired.
I'm at 15 years and I missed it by a couple months. I remember learning about it when I got hired and was like oh damn but that won't matter I won't be here long enough for it to matter, and yet here I am. I am not exactly sure what the benefits are but I really don't plan on being with spot much longer anyways.
Ringwraith917
Professional Badass
- Joined
- Jan 21, 2014
- Messages
- 2,239
I have it. I'll make 20 years soon. But I don't know if I can do another 25-30 years before retirement 😫. It's so long, and I'm tired now
- Joined
- Jan 8, 2016
- Messages
- 108
I suggest you drop your hours, ride it out and grab that pension. Also, don't forget to increase your hours right before retirement to get that lifetime discount from Target.
- Joined
- Jun 11, 2011
- Messages
- 2,770
10 percent off is not worth wasting your life away at the Bullseye.
- Joined
- Jul 22, 2014
- Messages
- 1,163
I mean you can quit as long as you are 100% vested you keep the pension. I kept mine. You can even choose to roll it into an ira if you want. Your not bound to spot forever over it
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