After 31 years, I submitted for the VRP. Not quite ready for full retirement but I can’t stomach another year watching the company company continue to pass me up for promotion and promote these unqualified and butt kissing people. I love myself too much to continue to torture myself with this political foolishness.
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I believe that people hang on sometimes because they know that the layoff severance packages are virtually the same as the VRP packages. So they believe it’s safe to pass up a VRP offer because it will have the same financial impact to being laid off, with more time employed and more paychecks. I think that people do need to realize though that the company can change either one or both of the VRP and layoff financial packages at any time. Especially with all of the claimed financial issues and the falling stock price they may decide to cut them to the bare minimum vs the current rather generous packages that have been in place for many years. I’d encourage you to consider this if you are offered a VRP. If you are financially capable of retiring it might be wise to take the package and go. If you are still earning pension credits that means you’ve been around for a while. The offer you get may take you very close to the end of contributions next year. It would be awful to turn down a VRP just to be laid off with a much worse package. Just something to consider.
I was laid off this year and will be accruing pension credits to the end of 2024. Missing out on 2025 was about all I regretted but overall life after PEP has been well worth it. In hindsight I wouldn’t trade being off work for most of this year for anything.
Pension contributions stop at the end of 2025 ?
What are you referring to ?
I’m taking the ERP, I was also going to retire end of 2025. Our pensions will still be funded while on severance. Also, if you work in Illinois, you can collect unemployment during your severance. Illinois looks at severance as money already earned. Looking forward to my retirement and doing all the things!
I was grandfathered into the pension when they cut off new entries in 2007.
I'm still receiving pension contributions...
Based off age & years of service I was grandfathered to stay in.
I chose to retire early the last round. Couldn't be happier with the decision.
But it was much much earlier than I planned. I won't be 65 for four years.
I chose to do a lot of volunteering in areas of interest several days a week. Good self care takes more time than you think now that time is available. Loving that and never felt better. Removing corporate stress has had an amazing impact on my health. Also looking at contract/project work. You won't regret your choice. I promise.
Who is still getting a pension contribution? Mine has been frozen since 2000-2001ish.
I took the VRP. Was planning on leaving at end of 2025 on my own, so it was a no brainer. Expect more to leave at the end of 2025 when the pension contributions stop.
I had already made my exit plans before the VRP package. I took the VRP and looking forward to my exit date in the coming year. I suggest networking, and polishing your resume for the next round of VRP.
If you are offered the VRP - you’re NUTS not to grab it ….
My final day was November 1 and the anxiety is gone in re: how PBC’s current sh---y service and a forthcoming new service model will agitate customers even further
This was offered to anyone who rolled under Steven Williams team.
I took the VRP and left in November. After decades of fearing the Hangman, it really is the best decision I ever made in my career. My daily anxiety is gone.
Side Note: I highly recommend that those that take the VRP actively engage in the assistance programs they provide, including resume assistance and skill refresher courses.
There IS life after Pepsi.
I took the vrp and left in November! Did they just offer another vrp today? If you received this the first time and didn't take it I suggest you think twice. Eventually they will just let you go.