What is NRE? I see people mention it all the time. What is it? Is it a point in your career that they can’t fire you or something?
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NRE means you can slack off and they can't touch you (unless you do something really stupid, of course). They've already told you that you svck, but no real PIP, just a form to he filled out. Not a genius move by HR.
“Try to make it to 59 1/2”: sure if you like your job, but you are not getting 5% per year because you get the pension for fewer years. Without raises, if properly calculated with time value of money, you will see that you are not accruing any additional pension for those years and may even be losing money.
Also, for mid career employees, please do not base your finances on an assumption of working beyond 55. Unless you have a particular skill they need, the vast majority of employees are being forced out at 55.
It's a mythical unicorn for new hires
Confirmed. The system is rigged but at least you will get 75% of your pension at age 55. Try to make it to 59 1/2 years old so that you get 100% of your pension.
I assume this means 52 with at least 13 of pensionable service? For instance, if you’re 52 with 5 years of service you’re not NRE? Asking for a friend
If they pip you during this time you cannot get fired. You can only get employee performance counseling. You are almost certain to make it to retirement. I used to wonder why tge 50 year olds would take it easy and cruise it. So if you come in to work and sit around you can't get fired. Just don't do anything stupid and you will make it.
Means you are between 52 and 55 years old and company will generally not fire you without cause to avoid lawsuits.
Downside is that the company can drop your ranking in preparation for forcing you out at 55 and you’re not going to say a thing about it because you are oh so grateful that they “allowed” you to make it to 55. It’s also a pension scam because by dropping your ranking they freeze your pay during the critical window for the pension formula. That steals three years of inflation on your pension number.
Near Retirement Eligible