Says they're offering "voluntary early retirement" to those 55 & over with 10 years or more of service. Well, technically you don't get to collect a pension at all, by their rules, unless your age & years of service add up to 75, plus your years of service are at least 10 years. So they're breaking that rule at the very least.
The union was kinda hoping that the layoffs would be Exempt Personnel (that would be non-union, supervisory positions & so forth) but this letter doesn't say so, though it does say oblique stuff about being in some named benefit package group. And it was sent to me, who is definitely not Exempt Personnel.
This is not the 1st time they've done "buyouts", but previously they were only "volunteering" Very Upper Echelon Exempt Personnel for this stuff.
I am going to focus on the word "voluntary" & take deep breaths. Because there's no way I could live on what they'd give me if I retire before 65, no matter how they "sweeten" it. They'd basically have to sweeten it so much that they give me a pension based not on what I make now but on what I'd make at 65, with regular raises. A la the figures I've already gotten from them for, ahem, "When I'm 65". And there'd be no point in them doing that, now would there?
I'm only posting this to avoid someone or other posting it "for me".
Got a very scary e-mail from my job
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ghostjmf
- Posts: 7452
- Joined: Tue Oct 09, 2007 11:09 am
Got a very scary e-mail from my job
Last edited by ghostjmf on Tue Feb 10, 2009 5:07 pm, edited 1 time in total.
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Ritterskoop
- Posts: 5892
- Joined: Thu Oct 11, 2007 10:16 pm
- Location: Charlotte, NC
Re: Got a very scary e-mail from my job
Companies/institutions do this during belt-tightening times to try to get people who are on the bubble to go ahead and jump. If you're not on the bubble, ignore it.
Or don't. But you have that option.
Good luck.
Or don't. But you have that option.
Good luck.
If you fail to pilot your own ship, don't be surprised at what inappropriate port you find yourself docked. - Tom Robbins
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At the moment of commitment, the universe conspires to assist you. - attributed to Johann Wolfgang von Goethe.
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At the moment of commitment, the universe conspires to assist you. - attributed to Johann Wolfgang von Goethe.
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ghostjmf
- Posts: 7452
- Joined: Tue Oct 09, 2007 11:09 am
Re: Got a very scary e-mail from my job
Ritterskoop says:
Usually its "we encourage you to jump before we push". I am financially unable to jump without "fantasy package" described above. I'm just afraid of what happens when they decide to push.
I will need all the luck I can get.
Companies/institutions do this during belt-tightening times to try to get people who are on the bubble to go ahead and jump. If you're not on the bubble, ignore it.
Or don't. But you have that option.
Good luck.
Usually its "we encourage you to jump before we push". I am financially unable to jump without "fantasy package" described above. I'm just afraid of what happens when they decide to push.
I will need all the luck I can get.