just recd word that an email re: VERP went out in Corebridge today. I have no other info at this time.
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50-55 years old—at least ten years of service
55 and over—at least 5 years of service
My group is 50-55 year olds and many are giving this offer serious consideration. Especially given the wording in the letter that if not enough people take the offer. The letter states that the Involuntary reduction will be much less generous. The company is still actively hiring.
Heck yes I’m taking it. It’s a great package.
Most individuals offered in my group are 60-63 with 10-15 years of the service. What are the chances you'll think they take it? What happens for younger employees? How long before you actually have to retire?
Does anyone know if an employee on Long Term Disability is eligible for VERP? I suppose the only way to confirm is for the employee to call HRSS? Thanks, all.
If you don't take the VERP, will you get laid off instead?
package details:
A lump sum payment** equal to three weeks of annual base salary for each year of continuous years of service as of the retirement date, capped at 60 weeks.
A lump sum payment** of $50,000 as a stipend to offset the cost of post-retirement health coverage.
A short-term incentive payment equalling a pro-rated amount of 100% of the colleague’s 2025 target under the Corebridge Short-Term Incentive (STI) Plan.
Accelerated vesting of prior unvested grants as provided for a retirement under the Corebridge Financial Long-Term Incentive (LTI) Plan.
Eligibility to enroll in post-retiree medical coverage under the Corebridge Medical Plan, as amended, for those enrolled in the Corebridge Medical Plan at the time of exit (retiree medical coverage enrollment must occur within 45 days following the end of active employee coverage).
Outplacement services are available.
The package was given to a specific age or years of service range Do you still feel so strongly about taking it?
What does the package look like? Usual?
Whenever it's offered to you, ALWAYS take the package.
Because if you don't, you're still on their list to get cut; just next go-round, the package won't be as generous, or may not even be offered at all.
Don't sc--w yourself.
When someone wants you gone, GO.
When someone offers you money to leave? Be thankful for their parting GIFT, take it without hesitation, and GO.
They've just shown you that they don't want you anymore. You can either leave the easy way, or the hard way. They will find a way to get rid of you somehow, some way. Easier on YOU, to pick up what they're puttin' down, and jump on the offer while it's there.
TAKE. the. money.
anyone thinking of taking the package?