Starting to irritate me why Honeywell keeps your lump sum pension payout for almost 3 months after you leave. Definitely not the right way to treat a LOYAL employee for over 30 years.
11 replies (most recent on top)
It took me 14 months to get mine 3 years ago. Not kidding. Every month when i called they kept telling me that they making sure the numbers are right. Which I knew was b.s.
Who does one talk to, and at what point do you know the exact amount of your lump sump pension? Also, how does one go about having said lump transferred directly to their Fidelity account, and when? I am not seeing rifs/vrifs on the horizon, but h'well never fails to surprise.
mine took a little over 2 months and I was not surprised by any delays. For those looking ahead to whenever the next round of RIF's comes along....yes, wait until severance is completely done. Yes, sign up for the lump sum as soon as you can after that. I'd much rather have the money in my control vs. letting them mess with future pension benefits. It will be interesting to see what they do with the pension payouts when they realize more people are opting for the lump sum; could screw up some nerdy MBA finance guy's analysis of cash flow - more $$ leaving NOW vs. later is not something HON will enjoy
Folks....if you think that Honeywell values loyalty, you need to get in touch with reality. I was with HW for 13 years , high block rating, , director, and was victim to the deep RIF this year. This company has no clue and does not value the folks that get the work done. They value yes people and tend to promote those to VP roles so the guy at the top can have his way. I need to thank the aero leader for the RIF after all because I've found a company that actually knows what valuing their employees is all about. Guidance here, give up on this dying company, the leaders are not equipped to manage the current or the future. When they fail, they'll find excuses and rotate out. Plant closures and deep cuts all are part of Darius' smoke show to become a software industrial and shareholders are buying it for now. Just wait till the aero market ramps up and see how the strategy works out....no one left to execute and zero know how in Mexico and the few remaining sites.
The better plan is fake news. Make them believe you are staying forever and when you are ready to go.... slow down. Way down. Then they will PiP you. You slow down even more. Then they tell you you are on life support. One day soon thereafter they RIF you.
Post ID: @1zrh+18tH9rf8- Same thing happened to me. NEVER TELL THEM YOUR PERSONAL PLANS! Many others were planning on leaving at year end got paid to leave in June.
Be careful who you share your retirement plans with. Mine got leaked back to hr and they refused to give me a vrif
Yes you can start pension process while still working. However the better plan is to VRIF or get riffed... and after severance ends start pension. If you start pension while receiving severance they can stop your severance payments
It’s in the fine print of RIF package
Surprised that they didn’t try to renegotiate the payout amount on you?
I ‘ll be in that boat in three years if I make it thru RIF-mass, the seasoning of caring and goodwill.
Surprised that they haven’t thought to apply that to our paychecks....
It took 3 months for me as well when I left. 120 day terms just like what they pay their suppliers
Retired last year took them 3 months to process my paperwork They said too many people leavening. However I was still working and getting paid during that time. Once I left I got my payout within two weeks