Thread regarding AIG (American Intl Group Inc.) layoffs

Retiree health care eligibility change

Any opinions on the change announed today to lower the eligibility requirement from 55 + 10 years service to 55 + 5 years?

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Post ID: @10OgTcKi

13 replies (most recent on top)

Good advice. I turned 55 last month and was considering putting in for my retirement then but I decided to wait to see if I would get a package and yesterday I did...It feels great to put AIG in the rear view mirror.

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Post ID: @10OgTcKi-Lwov

A word to the wise, if you are planning on retiring in 2020, don't let anyone know. You are better off waiting until you are ready and then announce it. Chances are you will be RIF'd if you don't say anything and then you have a chance to get a severance package. They are hoping that they can sway more employees by this change in retirement. If you research it, it's no big deal. Catch them by surprise just like they do with the RIF's.

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Post ID: @10OgTcKi-Lqjk

I was just hired 9 months ago as an FTE. I’ve already experienced many ‘challenges’. I don’t think I need to explain any further.

I am over 50 years old. Will you please refer me to someone who can please help?

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Post ID: @10OgTcKi-iwpc

65 would be a gift more so.. the tough spot is 55 to about 63 that’s the burn.

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Post ID: @10OgTcKi-cpug

If you are 65 or older, and get RIF'd. Guess what? You are better off taking a lump Doeheard this from 4 people. When you turn 65, you have to have Medicare whether or not you are working. Once you are RIF'd you have to pay for that in addition to a Supplemental. The company paid health Ins. in severance will not be considered Supplemental and therefore is useless. So you are better off taking the lump sum. Anyone 65 or approaching 65, look into this so you don't end up with useless health Ins.

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Post ID: @10OgTcKi-ckby

Not to be an alarmist but something is up. This the Rif time of year. AIG is evaluating who stays and goes. I heard this today 9/11 from a reliable source. If you are 55+, watch out.

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Post ID: @10OgTcKi-csms

The needful shall be done without reverting to the original station....

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Post ID: @10OgTcKi-4lbg

Location strategy is a stealth RIF. Move or we RIF you. Truth is they don't want to keep any IT in the NE, longer term would like to move it all to India.
If you think this is bunk, just watch.

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Post ID: @10OgTcKi-4bkh

AIG stock is up 33 cents on a very bad day. There must be something working with this company. Thank You BD

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Post ID: @10OgTcKi-3xkp

AIG stock is below 52. That is a better buy. hold till $55 and sell. wait and buy again.

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Post ID: @10OgTcKi-3jvr

It's only a carrot to get more people to go or a fake option for the targeted audience they plan on riffing because it cost $1,100 a month if you're under 65 which is more than just taking Cobra it means nothing

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Post ID: @10OgTcKi-2lou

I agree. If you have 5 years there, it's a miracle. Find a new job at a decent company until you retire. I'm still not hearing as many RIF's this year.

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Post ID: @10OgTcKi-2tne

Take it and run! Sounds like they are trying for incentivized attrition of over 50 to thin the herd. ? My guess. Then if enough don’t take it they’ll go back to their Standard Operating Procedure of RIF RIF RIF

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Post ID: @10OgTcKi-sxi

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