Anybody hear about this?
18 replies (most recent on top)
I'm hearing the same thing, standing their ground on you can pick one of the other:
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freeze your pension and get 100% match up to 8% on your 401k (which is better than the 82% match up to 6% on my current 401k)
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pension still increases but 0 match on 401k
I'd take the higher 401k even though the pension would be better IF it were there in the long run just because I have 8 to go which means 2-3 contracts and I know they'd end up taking my pension some where along the line. The 401k match ends up being more money in the short term so that's the route I'd go, plus when it hits my 401k it is my money, VZ doesn't have any control over it what-so-ever (sans it is in company stock which I can't move out of until I'm 50.5).
2 n 2 would be great. I have 26.5 yrs and the 2 n 2 would be the maximun I would ever get out of VZ so I will run out the door. Because I am hearing VZ is not budging off of the pension freeze. I keep hearing from every union employee " I got to get my 30yrs" You can throw that 30 yr philosophy right out the window!
008- Not sure what districts turned it down but it was available in my district and it was an extra $75K, not $40K. Agreed that it isn't enough to leave for unless you are ready but still a nice parting gift.
I too doubt wireless will unionize, however if the CWA ever had a chance to do it, that time is now. Get those left to join while the wounds of their coworkers being escourted out are fresh in their minds and show them that life can be much different if they unionize. I'm not a big union fan and frankly think our locals suck but no denying the fact that it is comforting that there is a no layoff clause in our coutract, if I were to leave I'd be leaving with a $140K pension (because I only have 20 years, that will go up to $500K when I retire), etc. Part of my statements are to educate others so even though some know this, all do not.
736- no kidding on the 2 age/2 service. I know a ton of people that would hit the road if that came around. Actually most of them need 3/3 right now but come next year 2/2 would work for most of them. I'm in the DC area so ton of contractor and government jobs out there they can jump on but need to finish out thier time here first. I'm (hopefully) out of here when I'm 51 and doing the same thing. Take the money and run, maybe do another 10 some place else and relax the rest of my life.
How about a 2 and 2?
Why doesn't VZ give years of service and age anymore?
I believe a super isp COULD happen, but OP has no supporting info for his/her erroneous claim, making this entire thread a waste of our time
Our union s.uc.k. !!
939 The reason the union is not going to accept it is because that's exactly what happen last year in district 1 last year at this time. They offered super iep to select groups last year at this time all districts in cwa and ibew accepted it district 1 told the company no. Iam in that district. Lets keep in mind the union is running a business they do not want to lose any more union dues coming in that's a fact. Good luck unionizing wireless I don't think its going to happen cwa been trying for years. Cwa and Ibew did accept super iep in june of 2010. The company and the union cant agree what day of the week it is ,that's why I don't see it happening at least not in district 1. Lets keep in mind the super iep is to not a significant amount of money more than the regular iep, its an extra 40000 and the monthly payments go up slightly depending on your years of service for 4 years. The super iep gives people who are pension eligible but have to pay a penalty also would not have to pay the penalty because of there age. It opens up the pool of people who want to leave.
653- Why wouldn't the union be okay with it?
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most being laid off aren't union (therefore leaving a higher percentage of employees union because the non-union employees were let go, effectively giving the union more power)
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those hired pre-2003 are the majority of the work force and it's in the contact they can't be laid off
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those hired post 2003 are almost all gone by now anyway (I know 1 out of roughly 80 people under my 2nd level. The big layoff scare 4-5 years ago made them all leave with the Super ISP)
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lose the battle but win the war, local union guy told me he's getting a ton of calls from wireless wanting to unionize. Lose a few, gain a ton; it's all business.
I'm poster 910, for the record I haven't heard anything about a Super ISP but it does in fact exist and it was offered last year (2014) for the first time in about 3 years (2011-12ish was the last time I think). I have 8 years to go so don't pay that much attention to them but I wouldn't leave without at least the double ISP (single ISP hasn't been offered in decades, they always start with the double ISP and if not enough people take it then about 6 months later they offer a super ISP).
Not made up at all, it's all right here: http://www.cwalocal2108.org/ht/a/GetDocumentAction/i/85619
That is from 2007, guess they haven't updated it because it hasn't changed since then.
30 years of service would get you $141,000 "bonus" to retire during the ISP period (plus the $3,750 for school, plus the extra uptick in the GATT rate, etc).
832
Where are you hearing this please?
That's very unspecific and sounds completely made up.
Yes. For union workers, super offer would be 50k to 100K bonus + 2,200 for years of service.
Let me get this straight the current offer to the union is to take 150 thousand from the pension out of every ones pocket and layoff who ever they want to but there going to offer a super isp. the union has to sign off on it also you really think that's going to happen yea right
Define "super" because we already got a "standard" offer in the mail the other day
I have not seen such topics on said super offer!
Would that be for union workers?
Where were you hiding? There is a dozens of posts here on this topic