Business Services Industry
Layoff Disrupts Secure Financial Future, Forces Woman to Rethink Retirement.
Knight Ridder/Tribune Business News, December, 2002
By Don Spatz, Reading Eagle, Pa. Knight Ridder/Tribune Business News
Dec. 9--Sandra H. Silvers was at the top of her profession in February 1999 when she left the U.S. Department of Agriculture laboratory in Athens, Ga., to work for Agere Systems Inc. in Muhlenberg Township.
She had 33 years' experience in a specialty called electron microscopes, and had run departments at the USDA and the University of Florida before Agere recruited her to help the firm get a better look at its microchips.
Then in a triple whammy, the financial roof caved in.
Silvers had converted her university and government pension plans to a 401(k) retirement plan. Since the market began tanking in 2000, she's lost a third to a half of her retirement...
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