I've read through the board, didn't see a direct answer to my question.
Will laid off employees as of 12/31 actually get their STI awards? In other words, while you will certainly get severance, how will you know that there will actually be an STI award, and when will that payout really be paid?
I guess this is my confusion; I know you get 100% of payout, but what is the normal target? So for example say the STI at 100% was $10,000. You could wind up with 5,000 if Verizon decides to fund the STI at 50% even though you get 100% of the payout.
It looks like there's a range of possible payouts, such as 5% on low, 10% on normal and 15% on high.
What are the chances of them hitting normal of all their goals for 2015?
67% of target if you made it to 12/18, 100% if you stayed until 12/31 this year for RIF impacted employees. Paid on 2/26 for everyone, RIF or still on payroll.
naturally target for performing employees is 75-105% of target, so don't expect anything over about 90% of target.
It has always been my understanding that you'll be paid a percentage of your bonus for time served. For example, if you worked six months and got laid off, the following Feb./March you'd received 50% of what you would have received (had you stayed the whole year).
Taxes are taken out of BOTH, Severance and STI amounts look good on paper but sticker shock when you get the separate checks
Does anyone know if folks can expect the full amount?
As you know, these kinds of things can sometimes look good on paper, but wind up quite small by the time they hit your bank account.
the answer is yes you will get your STI paid out on 2/26/2016
Likely mid Feb to early March, depending on what comes out of the board meeting.
Do you remember when you got the STI payout last year ?
Thanks for the replies.. So it sounds like the answer is yes. However the exact when is not known. Verizon may have to pay this out sooner to me than later because some states require all bonus/vaca/salary money owed paid out upon the last day. Mine is one of them.
According to the VZW STI Administrative Guide if you are employed here on the last day of the calender year then, yes, you will get the STI payout in Jan 2016. That is according to the Guide. However, verizon does whatever it wants to when it wants to.
Yes in March contact your HR business partner and they will confirm