I received a call this morning. I am affected. Out by Feb 18 or I can take 60 days to find another job. Called Fidelity and they will NOT have the lower rates until mid February. They told my co-woker the same thing. Called my advisor to calculate lump for me and got my numbers in an hour. Fidelity is using the "wrong " interest rate.
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You forfeit 60 day severance if you decline a job at your same level or in your area. That's what I was told after my surplus announcement back in December. The interest rates on the pension are currently showing the new higher rates. They have to do some work to get them back to the lower last year rate.
@vfo, need to figure that one out yourself. Even if the OP writes the name, the post will get nuked by site admins, as names are not allowed here. Btw, they also don't allow advertising via posts.
Good luck.
I also got let go. Believe it or not via voicemail.
I called Net Benefits 800 number and my person was closer to 22 years old.
She had no idea of the interest rate extension. Can the person below let me know who did the number assuming the better rates. Thanks
Interest rates affect pension lump sum and/or annuity payments.
What is everyone calling Fidelity for? Interest rates for what?
“If they find me a job and I do not want want the job then I lose the severance.” the job has to be within 50 miles of your last work location to disqualify you for severance.
@qvj: No. If the job is more than 50 miles from you, declining it does not forfeit severence.
I called Fidelity and the kid sounded 16 years old. He gave me a calculation that seemed to low. When I called my second level he told me Fidelity is using bad interest rates. Who did the calculation for you with the lower rates? Any help would be appreciated :)
So they can offer you a c-ap job on the other side of the country knowing you'll decline it and not have to pay you severance?
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I need to leave by 2-18 to guarantee severance.
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If I stay 60 days and do not get a job I get the severance.
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If they find me a job and I do not want want the job then I lose the severance.
I just had a long call(not fidelity) on these confusing options. I called Fidelity again and they gave me the wrong info AGAIN.
Is the 60 day or Feb 18 a choice of getting severance or not or just an added option