Anyone have contacts in HR that might know if Humana is going to offer early retirement packages? Last time was 2018 and I was told way too many people took the offer.
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Or, was able to defer monies from paychecks , bonuses and raises to 401k and can use that
So who can afford to retire BUT upper leadership? We do work for Humana and the economy is horrible! Anyone want to go to Walmart and spend $6.00 on a bag of potato chips? I guess some folks may have plenty in inherited money, or married to someone bringing in enough. But, I am definitely not one of those people. So here I am working and wishing my life away.....
@9hrn+1oMTznCs…you are misinformed. There was a RIF where people could volunteer, There are not 2-3 rounds, like you said, and the poster about the retirement party is correct, it has to do with years of service vs level of management . I went to one a few months ago for a care coach
Um….wrong o. A teammate was not higher management, and they got one. Also, there was a RIF where you could put your name in to voluntarily be laid off, but there was no guarantee that you would be selected….that one was 2 years ago?
The usual lies on the internet. No one gets to choose to take a RIF. No one! I would bet big money those claiming that are the ones they fired incorporating them in with RIF. There are always two to three rounds - those that are useless and about to be fired, then larger departments being outsourced, then the last ones are always mixed in like they chose to retire, when it was still a RIF. Retirement parties are ONLY for higher management.
Over the past decade I have been through MANY RIFs, and the teams I was on, it seemed that it was more median age of 35-45
And, they would not leave themselves open to an age discrimination suit. People in their 30’s and 40’s are more at risk. Now, those over age 55, if they can legitimately show a reason for them to be RIFd, related to their team being let go, or specific people that are ranked on the team and that person falls below due to performance, than they will be let go.
2mtq+1oMTznCs I am not incorrect - just because they haven't done something for a while or they say they are not going to offer it again doesn't mean they won't suddenly decide to offer it 5 years later. Thing change rapidly and they will be looking at the mix of employees including ages etc calculating how many they want to reduce by and act accordingly. So be aware nothing is ever written in stone.
I took a voluntary layoff back in oct 2021 when they did rif for Jan 2022. Best decision I ever made.
In no way is an offer to voluntarily leave banishment. Humana should let associates volunteer who not affected when there is a RIF. Maybe, some high performers would not be lost just because they are in the wrong department during RIF time.
Banishment? Early retirement is based on the employee’s choice…not Humana banishing them
Early retirement is not a good thing. Humana does not provide a pension or health benefits for lower level associates and this is nothing more than banishment of older workers.
Early retirement was not offered last year, or if it was, it wasn’t to all departments. If I was, I would have jumped at the chance. I was told by HR directly that it is no longer an option, and if it was, it would be during a RIF, but since the benefit is the same, it washes out. They said that things changed with project growth, and if you had the option to do the retirement, then you would get your two weeks for every year, and it is a savings for them to stop that benefit….and, they lowered the amount they will cover for your party, too.
@ 2lfx+1oMTznCs- nope, you are incorrect.
No-one really knows what they will do. HR doesn't tend to share that kind of information. Leaders will tell you what they think but it isn't always accurate. Early Retirement offers have historically been in the last 3-4 months of the year but could come at any time. They wouldn't make the offer to so many if they were worried too many would accept. They could change the qualifying parameters to whatever they wanted. We will have to wait and see.
Last time I asked my lead, they are no longer offering that option in a RIF, since the benefit payout is basically the same. It was used in the past to try to get people to volunteer for the RIF, as they did 2 RIFs ago, to try to lower the numbers for the RIF. But, now with the restructuring, it doesn’t matter, since whole departments are being cut
Are you asking about early retirement because you've heard something? Has anyone heard there will be rifs coming soon?
If you’re included in the RIF you also get unemployment. If you retire you do not.
And, what you get if you get RIFd, or get the option for early retirement is the same with severance…but, with retirement option, you also can get a party paid for by Humana
They’re no longer offering the early retirement option, you only get it if RIFd
55 or older and your combined years of service plus age is 65 or greater. Same package as a RIF, 2 weeks severance for every year of service. A voluntary RIF is the best way to describe.
What does early retirement amount to? What is included in the package?