this offer was an insult to us. management was given such a great offer and we get this one. what a joke. they say its only 10k because of the lump sum being up, so in other words instead of us benefitting from it verigreedy will keep the extra 40k from the enhanced IESP. jan 1st we get new vac. and sick days so the 10k is worth zero. don't be foolish, tell them what they can do with it, I know I am.
19 replies (most recent on top)
@3bml
How much is your life worth? Yes, you’ll have more money in the bank. I’ll probably have far less. But I’m going to live, not just exist. Yes, I may have to take on another job. Kinda. Or I might invest in a small business. Something fun. Something I won’t hate with every fiber of my being. There’s lots of people out there who are just fine, with far less money, but with a soul (or spirit, etc) that’s at peace. They’re far richer. And I’m about to join their ranks. Just food for thought. Peace.
@3bml
Security now will be locating the only person with 37 years with binoculars who does nothing all day.
Smart.
If the offer is the same in New work, I won't be taking it. That offer is no incentive at all. So I'll continue to collect a paycheck for doing nothing. Want me to leave? Make it worth my consideration!
Correct. $96,000 every year from a 4% return on your principle....plus if you add the $66,000 over four years, that is a additional $16,500 per year.
That’s a total of $112,500 per year. That’s why I said between $90,000-$110,000 per year....there are variables, but there’s no reason you can’t make as much or more every year and still not have to go to work.
@2lpf Where did you get your finance degree? A 4% return on his 2.4 mil is 96,000. This is the average withdrawal rate for most retirees. A 4% return is also a low/moderate risk investment. Geez people, go talk to your financial planners.
make around $90-110,000 per year without ever touching the principle
good luck with that. to make that your gambling bigtime in the market and may end up looking for another job someday.
another management post, nice try
I’ve got well over 30 years and am 56 years old. When the rate dropped from 1.0 to .50, my lump sum went up $50,000. When it drops to 0.0 in January, it’ll go up another $50,000 at least. That’s $100,000 in a little over 3 1/2 months. My lump combined with my 401k is around 1.3 million. Add that to my wife’s and we have 2.4 mil. The $66,000 paid monthly for the next four years will get me to 60 years old. Two more years after that and I’ll get social security. With our investments, we’ll make around $90-110,000 per year without ever touching the principle. (The wife made $180,000 over the past three years on her 1.1 mil..so add my 1.3 and you can double that). House and vehicles paid off. Only bills are taxes, utilities, insurance, food, gas, etc. The extra $40,000 would’ve been nice but I’m not waiting for that when the rates will go back up and I’ll lose the $100,000 I’ve made the past 3 months..and who knows how long before they offer another eisp. If you can afford to go, don’t get hung up on the other $40,000 they didn’t give with this offer. Look at it as $10,000 plus another $66,000 over four years. Enjoy the fruits of your labor and retire. I for one am not looking forward to another winter up in a bucket or down in a manhole. I thank Verizon for the opportunity and a good job. I also thank the union for negotiating our benefits and allowing us to make a decent living and being able to provide for our families. I’m looking forward to the next chapter and wish everyone who isn’t ready or able to go the best.
if you're able to go, you should go, package or not. The lump sum is the largest you will see for awhile. A friends lump sum was 775000.. he is going with no package. Why? Because if he waits another year and say the rate goes up 1% that's a decrease of aprox 100,000 .. if the package comes to him next year and its the basic 2200yr/10,000.. after taxes he is getting about 45,000 less than this year. If it's the super, its the same money as now. Why stay another year in a company you're not happy in.. take the money, go do something else. If your 401k is healthy its a win win. Really, anyone with 30 yrs really needs to consider what is available to them right now. I did.. and I'm leaving, no package and I don't care. My lump sum will never be higher. Thanks Ma bell.. Im out.. good luck to you all.. but really, take a look at the numbers.. talk to a finance guy, before you pass up a lot of money.
I’m ok with staying, if they want me gone, the deal is going to have to be to my benefit, not Verizon’s. In NY, there’s no offer at all, so I have no choice but to stay.
I'm certain that some people will be disappointed by the lack of the extra $40,000 and by the lack of time of service and age augmentation. I'm also pretty sure that we will see a lot if people off the payroll. My last isp offer was about 6 years ago. I've been ready to move on for a long time, and I'm not alone.
One day, it will all just be a really dark memory
Is there a surplus list out for pa that we can get? Online saw no.
I'll keep working and play lotto .lol
@ozg knows nothing. The company does not need union approval to offer the special package.
I'll just keep working , its o.k with me
@ozg: Just to be clear, the Company did not want to offer a larger package or they would have. The special EISP is already in the contract . The Union cannot stop the Company from offering the larger package, it was already agreed to. The Company chose to offer a small package. You have no idea what you’re talking about.
"this offer was an insult to us"
Just to be clear, the company probably offered a larger package, but the unions told them to pound sand. The unions are the main force behind the modesty of this package...they don't want their dues rolls shrinking.
There is always the lotto. Good luck.