Hearing many rumors that's the next thing to get hacked or significantly changed. I guess they're waiting until after the RIF to make all of these policy changes. My question is, if we leave before 2017 do we get the policy that's in place now? I do know if you take the 26 weeks, you can't take retirement until that us over do it may not make a difference.
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FYI: The current que for processing retirement requests is about 3 months. Possibly longer if you have a complicated one such as having a QDRO attached where $$$ allocations have to be made per the court order. Have a friend (in phx aero) that just experienced this crazy wait. Not hard to figure with as fup as HON is now days. I'm sure the sale of HTSI added to all of the requests. Great deal for those folks.
Understood. My question is, if I retire this year before the announcement if the change, will u stay with today's plan or will everyone convert to the new plan?
Pension rules can be changed at the company's will. There are many examples of this. Just look at when a company files for bankruptcy, is bought out by another company or is facing financial problems. Pensions are not as secure as the once were. A company can also dump their pension liabilities on the government, which will pay significantly less then the agreed to pension would
You can stop severance pay and start pension before receiving all severance payments - just can't receive both at the same time. And you can't go back and resume severance pay once halted. If severance is stopped in December, for example, soonest pension payments could begin is January. And you need to allow time for pension paperwork processing (I think around a month in advance).
Can we hire the 'A Team'???
There is no grandfathering in with this company. If Dave Cote and Tim Mahoney can line their pockets with millions more before the jig is up, they will. They yanked the healthcare subsidy out of the legacy pensions years ago. They froze the legacy pensions last December. Now, the rumor is that they are going to stick it to us again soon. They really don't care if anyone else has any money in the end as long as they can walk away from the company with millions and millions of dollar in their bank accounts.
I hope it is but that's not what us bring said. Maybe if all ready retired it won't change and that's my question.
I was told HR can still submit as if Friday.
Thanks
It's too late to volunteer for this RIF anyway and if you leave on your own you won't get the severance so your question may be moot? Also, if you are grandfathered in to the pension plan, which I assume you are since you mention 26 weeks of severance (you have been here at least 26 years) your pension as it stands should be the same.
Just my thought-