There is still plenty of time to get SIRPd. If you are going to retire anyway why not try rocking the boat
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Not really. You need to do something really awful to get let go before 11/30. You'll probably find yourself counseled by HR, warned, or reassigned to another department. If you do get yourself fired, SIRP is at Ford's discretion and kiss your bonus goodbye.
@azh+1iPGPTbP - No. Severance and Lump sum distribution are totally independent. I received my full severance in one lump sum. I also requested a lump sum pension distribution be invested in an IRA to my financial institution which will happen in October 1 or 15. Note that my ‘benefit commencement period’ was September 1. That is the magic date to qualify for the lower interest rate. Your benefit commencement date must be December 1 at the latest. October 1 and November 1 work as well.
Severance and pension are different. I just got mine and now waiting for lump sum to show up. NESC must be and interesting place to work!
If one is SIRPD with several months of severance and the person is close to retirement, does it mean that the lump sum pension cannot be given until after the severance period ends? If so, that could push the retirement date past 11/30/2022 forcing the 22+% decrease in the lump sum (since the new interest rate is used for those who retire after 11/30/2022)! If that is the case, being SIRPD would be a big financial hit!
I did rock the boat and it worked, I was the first to be let go. It's easy to point out the flaws in the department and how safe decisions are being made that might be not be in the best interest of the company. That really ruffled feathers.
Anyhow I hear some say that it's important to control your future and retire without severance. I don't agree.
A bunch of yes men and women just saying what the chiefs want to hear. The money is too big to say no. These same LLs are crying cause they did not get their 9 Month Severance and will see their lump sums crash 25% come Jan1.
They are going to spend the entire month of Dec dealing with NESC getting their Cobra insurance set up.
Better not let that ink dry on those org charts cause thing are a changing real soon.