just got it in the mail showing how much we will lose if interest go up and suggesting it might be a good time to retire. can you believe it? rates go up and down all the time but I doubt they will be going up anytime soon. there actually going down so our lump sum will keep going up. DONT let the company propaganda scare you into retiring without an EISP. that's there plan. I know im NOT helping them on there 10 billion dollar cut they have to make by 2021. don't be foolish, wait for an EISP.
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Markets go up and down all the time. Invest your lump sum and 401k conservatively and just live off of the interest. If you’ve got over 2 mil and get 4%, that’ll be $80,000 a year for not doing anything at all. If your home/vehicles are all paid off, you’ll be just fine. Enjoy your retirement!
The Market is at an all time high and is primed for a crash. Interest rates are so low that the fed will have no recourse after the crash.
Would have to be totally insane to take the lump sum at this time. You'll lose half of it more in the coming market meltdown, and the bond markets are in turmoil as well.
Rates are not actually going down. The fed stopped cutting. The 10yr treasury yield went up from 1.5 to 1.9 from a month ago. This will have a negative impact on your lump sum.
Well, I'm in the federal Enterprise sector of large business, but it doesn't seem the company is going to offer my group this EISP package. I feel it is unfair to offer to some, but not all. The offer is 10k and $2200 a year up to 30 years. I can't understand why they can't offer this. I already check with the union and ask upper management and the reply was no.
The union wireline guys seem to think all wireless employees work at retail stores. I don't work on hourly, but if I were to calculate my salary and bonus into an hourly figure, it would come to around $90 an hour. Around here where the average home costs $1.2 million, $40 an hour won't pay for squat. So if I was making that, I would be begging for a handout too.
The wireless guys have no clue what they are talking about and are really at the root of all the discontent between management and the union because they get peanuts compared to us wireline guys. You wireless guys will not get any incentive to leave because they don't have to plus you guys are dispensable like a used paper towel. The company will simply close your shop door and leave a note on the door for you the next day. I know they want a disposable work force like they have in wireless so they are trying to get rid of us that have paved the road for pay and benefits for the wireline, $40 an hour plus benefits, all the vacation and paid sick leave plus personal days and more. Wireless will be like working at Dollar General when we are gone.
Thats good because you are not getting an EISP this year or any year. Come back to reality.
I wouldn't take a EISP this year, the feds are predicting 3 more rate cuts next year so the lump sum will be skyrocketing. plus by 2021 they have to meet there 10 billion dollar goal so an offer next year is guaranteed. might as well make another years pay on top of that.
that's BS if its 2200 a year it would be 50k not 10k
So less than half as good as the VSP? Thank goodness for the union so we get our sc-aps of crumbs!
Garage = SWVA, local 2204
I wont be more specific.
what garage?
Yes capped at 30 years
Capped At 30yrs?
Just announced at my garage, off payroll 21 Dec, targeted titles, letter to arrive at home residence this Friday.
2200 per year, plus 10k
Not the biggest eisp ever, but a nice little parting gift for people ready to go
The new date is now November 28th. I heard this from someone close to the matter. Good luck to all.
Did anyone win the EISP game on the back?
Last day 12/21. Smell you later
There was no offer made. It’s BS as usual.
2,200 per each years service and 10,000.
Does anyone know any details of offer?
Not just that Its in the mail or we did it
If so can someone please share thanks
@2RTH .... 4 years of pay may be 130,000 for a wireless clerk, IDK, but for many of those in wireline you can multiply your guess by 3.
Notice how the flyer wants you to leave in 2019.
It states rates may rise in 2020. Im pretty sure from what ive been able to understand the pbgc will be lower in January - 0.00, down from .50. They dont want to owe you all of your vacation if you wait till January. I guess they are counting on people not knowing that.
Most of us with 30 year and still in their low 50's will wait till the end of 2023 to leave. Only ones that will leave are guys close to 60's.ill just stay 4 more years and keep putting$$ in my 401k and collecting a pay check even if theirs is no work here..company is not going to us anything of substance too leave...
HAHAHAHA - 4 years of pay......
August 2023 will be here in just under 4 years, my feeling is the company will get antsy before then, if they don't the money keeps coming in every Friday.
But 4 years pay is lesser than $130,000 so what does you means?
Yet to get one and as @2spf stated all the company needs to do is provide an offer that is so damn sweet none of us will refuse. Offering a $130,000 to go is not going to cut it. Company needs to come up with 4 years of pay or better.
You have to wear your union issued special goggles to see the secret surprise EISP contest on the back. Scratch and win. Odds vary depending on participants.
Just got flyer in Southwest Va, just intimidation. I am retirement eligible, company just trying to get rid of uninformed. Company should provide a great EISP and be done.
I received one today. It is a simple flier that says on the cover, “Lower interest rates= higher pension lump sum”. And it has the “chip” graph as 1nmb posted. No EISP lottery scratcher on the back though. Hopefully this is a “primer” for an EISP.
No one got it.
It was a troll post
Maybe the flyer only went out to techs with 30yrs or more ..idk
I didn’t get one, I was told flaggers are not in this targeted round, due to all the training we received for the qualification...
Many people I talk to didn’t get it yet. It may be going to whoever is going to get the offer.
That’s it.
Everyone go in time out
Don't forget to flip over the flyer before throwing it in the trash. There is an EISP lottery scratcher on the back. Good luck to all!
I agree 100% with 1KXI. We busted our added, froze and sweat with NO regards to our health. The people in the stores act like they know it all and treat us like garbage. And for the mgmt that are so jealous and full of it as far as what the tech's do. You could not work in our shoes for one day !
Post the flyer
I will sit in my seat everyday collecting big bucks with no work to do as long as it takes for them to offer a package. If they want me gone that bad then they are going to pay me to leave like theyve done in the past for everyone else.