Seems like a limit of us got hit with less than 1 year to full pension. Has anyone contacted a lawyer about this. Pension, not benefits
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MTP applies to benefits and discounts. This is straight pension payout.
@ZCSejt0-1axn Exactly. Some of us don't get defined pensions, just cash balance. Other get nothing. Some people are confused. They can join the club.
Would you be eligible for the Management Transition Program if you are shy of the age/service within 24 months? You get reduced severance but you would get the retirement benefits
32 days shy of full retirement benefits
Do not the modified rule of 75..sorry
For management employees there are 3 things that determine your pension dollars. 1). Which company did you initially start at. 2) years of service 3) salary/ income. You are eligible for vested pension after 5 years but the $ amount is negatively impacted if you do that hit the modified rule of 75 age and service breakpoints. I am over 60 and laid off with 19.4 years of service. My annuity is therefore reduced by $700 a month because of this. I needed 20 years. Benefits are another discussion.
Really what are you trying to say? Management get severance, unemployment, pension, 401 and benefits when surplussed? Of course some depending on age and years of service. ALL employees notified of impending/current layoff for a couple of years now, so no surprise!
Management people I know who retired last April, got the full benefits, pension, 401K/Roth rollovers along with Careplus and Insure, etc.... Also other management people I know who got surplused this year and last year and up to a year ago were also able to have the full regular pension, benefits, etc. I'm not clear as to what you're saying