Why do some select early retirement vs rif severance? Are there different packages?
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There is a employee phone plan that's about 50% the cost of non-employee. Insurance was unclear to me. When I got the costs of the insurance it was over $500/mo single coverage...I did better on Medicare with a supplemental from a second party. Good luck!
Thank you for all of these posts. They've been very helpful.
I hit the rule of 75 this year. Was not included in this RIF, but expect to be on the list for the next one.
Can anyone give a snapshot of what benefits are provided with 75? I've looked all over VZWeb and can't find a document or list. Called the benefits hotline once and they had zero details to share.
Thank you and good luck to those impacted this go around.
I qualified to retire and got Rif'd...I took the severance package and still get the employee retirement phones and data plans. (non-union)
It sounds like age and health issues is a common thread for those let go, just based on entries on here.
Yes, I do realize that this is not a scientific sample, or even accurate.
When you are RIF’d your age+years of service for retirement eligibility becomes 73, instead of the standard 75. Not sure many are aware of that.
If eligible, when RIFd you can also retire. So while not a special package, I did it because I got a good lump sum due to the low interest rate.
Non-union, offered a severance, but eligible for retirement. What I really want to is keep the numerous discounts I have that are eligible to retirees.
I think it depends on if you’re union and qualify for retirement benefits vs. if you’re non union and are just getting a severance.