I’m close to retirement - a couple years but am fully retirement eligible. Any downside to answering I’m interested in leaving ? It would be nice to get severance.
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I don’t know what they offer management.
But in ATTSE they offered union facility techs 2x base salary to retire early. No one took it. Not even one guy with 38 years.
Full retirement= Magic number 75 AND
if 65 and 10+service years or 55 and 20+ or 50 and 25
If you are >55 and < 20, nope.
e.g. 64 age + 19 years, nope
SIPP - Spplemental Income Protection Plan.
For non-management in Southeast to Volunteer to retire. In southeast non-management surplus notifications only go out quarterly on the 15th of the month prior to the next full quarter. So December 15, March 15, June 15, September 15 is the non-management surplus dates.
Management on the other hand does not have intervals so surpluses seem to be happening every month just in different orgs/departments.
I am not aware of anyone who is eligible for post-employment retirement benefits not getting those benefits if surplussed. You should get two packages once you're off payroll, a Cobra package required by law which you disregard, and the post employment retire health package.
what is sipp?
Do you not get severance if you get surplussed and don't volunteer? I thought you get severance either way.
I am 62 and part of the affected group. Today according to the Hewitt site I qualify for subsidized healthcare if I flat out retired. If I become surplussed does that go away?
If you can wait until august there is another sipp gonna be offered you. Can save a job
If you are fully retirement eligible then you don't need the MTP which is for when you are within 24 months but not there yet. The downside of volunteering is you get 6 mos severance but you have to pay for your insurance whereas those not retirement eligible get the healthcare for 6 months at subsidized. Full retirement price for Bronze is about $1200/mo for a couple but if your spouse has insurance that goes away
If you're within two years of retirement eligibility with full benefits, (ie insurance), you can opt to go early with bennies, but the downside is you have to give up half the severance, which is already capped at 6 months salary. So in effect, you end up paying for your insurance!
Check out the MTP program. If you are 24 Months from retirement (magic number of 75: Age + years of service) then you could do this and get retirement benefits. Good luck.