Can anybody please explain what is this rule 72 I keep hearing about?
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72t. Google it. Has nothing to do with Verizon. It’s irs tax code
That’s right. The Age + Service rule is Rule of 75.
Ah, no. The Rule of 72 has nothing all to do with age+years of service equation.
Rule of 72 allows you to leave Verizon as a Retiree & receive all of the Retirement benefits. If your Age + Years of Service = 72, then you qualify. Ie. Age 52 + 20 years of service would qualify. . Also you need at least 10 years of service. Age 62 with 9 years of service wouldn’t qualify.
As others have indicated it is a threshold where you can access certain retirement benefits. You just take your age, and add your years of service. If it hits 72 or over you are eligible to apply.
“ Current leadership wants to change that by including white females in their diversity numbers.”
I hate to tell you this but they already do at all levels.
Diversity is women and people of color meaning all women regardless of race and anyone who declares a race other than white regardless of gender. The only ones not diverse are the white males. Since I got booted my old department is now 100% diverse.
move along...nothing to see here Skippy
Rule of 72 is when you purchase 7 dozen eggs at Costco and get the last dozen for free.
I believe that is the capped life expectancy age the lump sum is calculated, which I feel is not friendly towards the employee.
Rule of 72 is a formula used to determine how long it will take to double your investment at a given interest rate. You divide the interest rate by 72 and the number you get is the amount of years it takes to double the invested amount. If you have $500,000 at 10% interest, it will take 7 years to double it. This is asset management 101; real basic stuff. All the other answers are mo–nic.
72 is the % of executives who are white males. Current leadership wants to change that by including white females in their diversity numbers.
Are you asking about the rule that says "years of service + age = 72 ( or more )" give you certain benefits? If you are union that might apply ( not sure, I am not union ), but if you are a Verizon employee you get nothing. And you will like it.
Are you referring to a 72t? That is a rule that allows you to access your retirement funds before retirement age, without penalty. There are a bunch of rules, so contact a pro.
72 is the average number of days for new hires to start looking for another company to work for.
I'm new here so forgive me if this is common knowledge.