Has anyone that was rif’d last year received any emails yet about what they are getting exactly for a Sti bonus. Does anyone know if they are going to let us know or if we will just be surprised come feb 23rd
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STI payout will be reflected in your Feb 23rd payday
The payout is 93% of your target 100%. Of the 93%, your manager has to divy up a percentage of that 93%a pool of money between his/Her reports.
anyone know what this means to those of us who were riffed in December?
When will the 2017 STI payout happened for this that have been RIF in December 29, 2017?
Anyone know?
@3udo If it was for 2016, I think it was 60% across the board
I was with the company over 20 years and never got lower than 98%, some years above 100%. When I got Rif'd the manager and director cut it back to 60%. I fought and fought for an explanation and never got one. Go figure?
2xht,
I call BS on you.
Since I have been here, the payout has been 80% - 110%.
This is standard across all eligible for STI.
Of course, you manager can modify it.
Cgx
How did u get past the censors with the sh--. b---s--- billshit f--- crap c--t lets see what i get censored...
Huh? What im saying is you made a comment stating we should expect less then 85% if we were rif’d. An i said billshit because if it had nothing to do with performance that we were layed off then we should still receive the 93%. I was with company for 10 years an mgr always gave close to announced percentage
wtf are you talking about? "performing" rating has a payout scale of 75% to 105% and has been like this for quite a few years now. Nobody gets 100-105% unless they are marked as extremely high 'P' category. If your boss is fair, it usually comes in the 90's range...but those who get riffed typically come up a bit shorter. It is what it is unfortunately, the good news is nobody is allowed to screw you over and put less than 75%.
Thats b---s---. Especially considering most that were given notice on nov 26th. Had nothing at all to do with performance
if you were riffed, plan on below 85% of the target STI for Performing (75%-105%). It all depends on the manager/director.
What was it last year (worst for STI)
And the 10% depends on your position. It's 20% for some, much higher for directors and above.
Doesnt answer my question. I know how sti. Works. They take 10% of your base then multiply by percentage multiplier. But i know from years of being with Verizon you dont always get that exact amount. Your mgr can increase or decrease it for example. Last year i got a little less then the multiplier. The year before i received severa hundred more then the set multiplier.
Look at your severance paperwork. It was emailed and or given to you.
It will show what your personal severance calculation summary is.
STI is about 10% of your base pay.
Does anyone know if you were rif’d in December will our previous mgr or HR be sending us an email to let us know what our specific sti will be. Or will we just be surprised when we look at our bank acct on feb 23rd?
Per the severance agreement:
If your Last Day of active employment is prior to December 29, 2017, this amount is prorated at 67% of calendar year Target through your Last Day. If you are eligible, and your Last Day is on or after December 29, 2017, your 2017 STI award will not be prorated and you will be eligible for a full-year STI award for the 2017 plan year, subject to normal STI plan provisions.
Does it pay out in full or is it pro rated based on month of departure like STI?
Yes if you were rif'd in 2017, the profit sharing is part of your package.
Anybody know if 2017 RIF'd employees also get the 1.5% profit sharing contribution to their 401(k) savings account?
The 93% modifier is the same for everyone who qualifies for an STI - mgr or not.
What about for non mgmt?