Can anything stop me from getting my pension if I have over 30 years?
19 replies (most recent on top)
Not GTE, NYNEX to Vz (craft). Just curious what would happen in the worst case scenario with this strike.
Were you a GTE employee first? If you get laid off or quit you will not get it. If you retire you get it. Trust me, I just went through this in early November with the 8,000 layoffs. Had to make a choice and risk getting cut and not getting my pension, chose to retire and take the lump sum. Talked it over with HR and this was the logical choice. HR told me VZ could keep the whole amount if I were to get laid off, so I carefully had to weigh this decision and was not going to let them keep 20 years of my pension.
"Do you have a 1.5 DSL connection at your house and a POTS phone?"
Actually I do have a landline and a DSL, albeit a 24Mbps one, courtesy of Frontier. Hope to be working - along with the rest of us - for that company in the foreseeable future and will be extremely disappointed if we don't get sold to them.
Math.
LOL, no Verizon is not going to file for bankruptcy because they have a very profitable Wireless segment, if it was POTs then maybe... Do you have a 1.5 DSL connection at your house and a POTS phone? probably not, not really arguing here, but if you have less than 15 years, I would be looking for another job.. Depending what they do with FIOS, you may have a bit longer but its a dying dinosaur.
"Yes FAIRPOINT, you can say whatever you want, but I went through it and Verizon is following the same gameplan... "
So VZ is going to file for bankruptcy protection? Not in a million years.
Yes FAIRPOINT, you can say whatever you want, but I went through it and Verizon is following the same gameplan... I wish it were not true but it is,, Verizon has bigger pockets than Fairpoint and can withstand a strike much longer, and FP's was 4 months.. IF you don't think the Fairpoint strike was funded by Verizon as a "case Study" you are sorely mistaken. Fairpoint had no money and had to make cuts, Verizon has money, just not from the wireline side.. And they don't care about FIOS, and POTs is dead, so why keep a horse with a bum knee..
"Happened in NH with Fairpoint, no more lump Sum."
And once again we're bringing up Fairpoint which was under bankruptcy protection at the time...why? They had a plethora of tools for slashing their worker's benefits which VZ simply doesn't have, since no one in their right mind thinks that they would file for bankruptcy, let alone be approved for one...
Yes, they could get rid of Lump Sum option and make you wait for it... Happened in NH with Fairpoint, no more lump Sum.
You can do better Han 4% gain, I would
"The lump sum is negotiated every contract, without a contract they have the option of giving you a hard time."
True. However, if one were to choose any of the monthly options they would be available to them no matter what.
The lump sum is negotiated every contract, without a contract they have the option of giving you a hard time.
Thanks for the response. I'm not say I want to retire, just asking if my pension is safe no matter what happens now. I would like to keep working and hopefully get a enhanced offer when this is over.
Death.
"Yes, if you let vz hold it they can take whatever, whenever they want"
LOL. You don't really expect anyone to take you seriously, do you?
Instructions on steps for submitting the retirement paperwork during the strike came from the company itself...
Yes, if you let vz hold it they can take whatever, whenever they want
I suppose someone could come up with some drastic/irrational examples on this site, but the short answer is No.
Ask your local.
No, but if you wanted the lump sum, that could be a problem.