What is the enhancement retirement package for those that qualify for rule of 75?
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Package details released on Monday it’s in the FAQ
1 week pay for every 4 years, 1 month of extra medical
Seems like the process is simple - VSP, if you don’t take it you MAY be ISP’d and all people actions will be complete by 11/15. Does anyone know if the ISP will be the same as the VSP if you are not Rule of 75?
Achieving financial independence should be very high priority in everyone's life. Doable if you are in IT and don't have too much bad luck in your life. I'm the US, health insurance is the biggest impediment.
Google IRS rule 72 for tax deferred accounts. If you are over 55 but under 59.5, you may still be able to withdraw from your 401k if you lose your job
Be careful with the early retirement depending on your age and health. If you aren't at least close to 65 when Medicare starts your health care premiums will easily be $1200-1500 a month for less coverage than you currently get from Intel. Even more if you still have other dependents. The job market is tight right now and probably won't get better any time soon. Age discrimination is a real thing in the job market and good luck proving it.
Not hard to meet the rules of 75 and still not old enough to withdraw from IRA or even get SS. 50+ is a hard age to get a job even with years of experience.
They won't outright say it, but it is true.
I have friends who were over 50 that were given VSP and ISP that really never recovered.
Stated very clearly that all folks that qualify for retirement will get an email on Monday with all the enhanced retirement package details.