Hypothetically, if one were to leave by their choice, not through a layoff/rif or being fired, what are the rules for STI payout and unused vacation? Would it be the same as someone laid off? And if so, or not, is it that we have to be on payroll through Dec to get the STI? Thanks, just exploring ideas
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Just resigned last month. They pulled all of my STI almost immediately, and paid out my vacation, two weeks (I was sent home early), and commissions the week after I submitted the resignation. It has been an amazing month not dealing with the misdirection of our B2B "leaders". Its too bad, this used to be a great company.
You have to be employed on the last day of the year to get STI.
So...if you quit in January you still get the bonus i\n March? But if you leave in December you dont get it ?
It's in the plan document each year, what date you have to be on payroll through. This year it is December 31.
If you leave Verizon, you are entitled to be paid all of your unused accrued vacation as of the date of separation.
Unused personal time will not be paid out at separation, except where forfeiture is specifically prohibited by state law. If you work in the state of CA, CO, IL, MA, NE and ND then unused accrued personal time is paid at separation.
all from Inside Verizon.
@OP You have to be on payroll through Dec. 31st to be eligible for the STI. You will be paid out for any earned but not taken PTO time in the event of a resignation.
you lose your bonus for sure, but i thought you got paid out for unused vacation.
If you leave in dec you get nothing.
You lose it. That’s what happens.