The pension is gone, mostly

Put in your years, get a pension and a gold watch. That deal has quietly disappeared at most companies, but a few employers still pay for loyalty in a bigger way.

$70 million, one Wednesday

To mark its 50th birthday, Station Casinos surprised nearly 10,000 full- and part-time workers with stock worth more than $70 million. The formula: $1,000 in Class A shares per year of service.

Walk out as an owner

Vice Chairman Lorenzo Fertitta told a ballroom of employees the point was to change how they saw themselves at work, not just top up their pay.

“this is now your company too”

Decades of service, cashed in

Ida Johnson, who started in 1977, got $49,000 in stock. Six others who began at Bingo Palace in the 1970s and still work there each received more than $45,000 in equity.

From 100 slot machines

Frank Fertitta Jr. left Galveston for Las Vegas in 1959 and opened a 5,000-square-foot casino in 1976 with 90 employees. It became Palace Station in 1984; the company now runs 14 properties.

“our dad knew it was the team members and the relationships with our guests that was the most important part”

Not the only one

Bank of America gave nearly its whole workforce a $1 billion restricted-stock pool, Apple handed out $2,500 bonuses, and Fibrebond's owners carved out $240 million for staff when the company sold.