JUST ANNOUNCED - 3Q EIPP - OFF PAYROLL 9/29.
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Wait 2 years bigger buyout coming, they will get all people with 25 years or more off the payroll and not have any or just a few pension employees left, why would they want to deal with another contract negotiations with half pension workers ,and half non pension workers…. And at that point ghatt rate should have dropped ,so if all falls into place. 2 years could mean a huge difference in retirement
@4ukl+1trW2aUn only if you want to leave a ton of money on the table. A couple of percentage points could mean the difference of well over 100,000 you'd lose. It's not losing money sitting there.
Post ID: @3jjw+1trW2aUn. You say delay taking the lump as the rates drop, but wouldn’t it be wiser to take it and invest?
@1gtw+1trW2aUn Unless the VZ Union side pension is operated completely different from every pension plan, at every other company & Gov agency in America, you do NOT have to take the lump sum on the way out the door. You can wait and take it whenever you want. Just file the paper work after rates go back down. The Fed rate will never go back to zero again, but it will likely be cut in half from where it is now in the next 18months. Live off what ever cash they give you on the way out the door & cobra beni's, and then initiate your official retirement date when you run out of the exit $$ & beni's.
My friend knows a guy, and he has a friend of a cousin of Hans' gardener that said this is true
correct , we still have the annuity. but our past retiree annuity was sold and new retiree continues to be sold to Prudential. that means it is no longer federally guaranteed by the pbgc. which is why VZ no longer cares about annuities. Prudential as a private insurance company is regulated by the state in which you reside, for much less than the federal guarantee. while they are a reliable company, they are taking on alot of pension debt. do you trust them 20 years from now? if they fold so do we. talk to a pro and make educated decisions .
Loss as in lump sum ? Doesn't affect the annuity.
We’ve lost so much in our pensions that it would have to a 4x EIPP
This is not surprising, there really is no work . and the lump sum being it's lowest in years, it would be smart to offer it sooner than later. But... this is Verizon we're talking about, so you never know. good luck to all!
Post ID: @goa+1trW2aUn Isn’t an EIPP enhanced?
if its not an enhanced eipp ,most will stay till the end of the contract .pay me to do nothing since theres no work.
Confirmed cheeseburger EIPP and McDonalds. I love fooling my garage boss into thinking I actually work.
Announced where?
Confirmed
This is actually real. Our unit president works out of my garage and he confirmed. Full details to follow. Im outta here if my title gets the offer.