I'm NRE and was ranked NSI this year (what a fckng surprise). Took a look at my DPC plan today. What a joke.....a 10 year old could pass it. Total waste of his time and mine. they damn sure won't have to "push" me out ! The moment I'm RE, so long a$$holes.
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The ploy continues....all 55+ in our affiliate leverage decades of experience to keep oil production and profits flowing. Every single one dropped to Good bucket last year, now more than half are in bottom bucket. Weak explanation from management regarding competitive environment blah blah. Trend is very clear. Good f n luck going forward. To his type of corporate behavior is usually indicative of major divestment.
Don’t know if this has been shared widely, but you can get PIPed 2 times in 5 years. Which means as long as you keep passing the PIP, you can stay for 3 more years. The sups and mgrs will never tell you, but you do an incredible service to them when you stay on so they can use a forced NSI spot on you instead of someone earlier in their career. I bet they’d be happy to pass you now. Just a thought if the retirement benefit to get to 60 is that good.
I’ll be 60 in 11 months, eg, July 2022. I worked like crazy last year and was fortunate to be assessed Excellent. After 60, I Will get a much needed knee replacement, buy my retirement property, and then adios …
Wishing everyone the best!
Same games going oN in the gulf coast. Dropped yet again in ranking. Ranked good this year after an awesome last year. If this isn’t selective corrupt bs I don’t know what is.
@OP, you’re looking at it wrong. After 10 years of service, you get a lot of short term disability per year to use up, and you have a couple years to find a doctor that will put you on it. Hit RE, go get a jo--t replaced, then use up the Short term disability until it runs out. You just have to work another 6 months after than to reset it to the full amount. With any luck, you can be on payroll another 3 years without working more than 1.5. That’s an extra 5% of base pay into the pension and reduces the early penalty from 25% to 10%
For me, retirement at 55 causes a penalty of well over $500k compared to retirement at 60.
The lump sum does not suffer as much penalty as the pension.
For me the calculator shows losing about 10% taking it at 55 vs 60.
The interest rate affects it most.
I agree that getting one more year after RE is worth it. Figure the benefit of 1.6% more retirement and 5% less penalty on retirement plus 7% matching. All that on top of salary.
That 5% less penalty on lump sum could be huge. For me that means lump sum increase of over $10,000 per month for every month I stay past 55. Might motivate you to suffer until 60!
@OP My recommendation - After you're RE, get one more year out of it (you know what to do in the last year), ideally with another NSI (three extra months for doing nothing). You've earned it buddy. Don't let it go free. :)
You would rather have. Plan that is impossible to pass? Glass half empty much?
You are CORRECT, Sir!
(chuckles)