I believe I’m cooked my manager asked me if I wanted to take the next rif package. He then asked me if I was ready to retire. I’m The only one left onshore for my team so I feel like they’re gunning for me for the next rif. I make $184k including STI bonus. Do you think I’m overreacting?
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@da medical subsidies (a tiered bracket based on service) are only available to management employees who had 15+ years (which included an 18 month bump they gave you) of service as of 2006. The amount is based on a percentage of the costs of the 2008 idemnity plan. That should tell you all you need to know about what your insurance would cost you until medicare age. Yes, it's better coverage than what most can get on the ACA, but definitely not cheaper. So unless you have 35+ years of service, you aren't eligible for any subsidy. Plan accordingly.
@OP Consult with an employment attorney and start meticulously documenting these interactions. If you get laid off or if they pressure you to retire, you may have a legit case of age discrimination and you'd need to file a complaint within 180 days.
BTW, you shouldn't have included so much info in your original post. If your boss reads this forum, they'll figure out who you are. Let's hope they're too busy to hang out on this board.
What insurance. Verizon does not pay for your insurance when you retire. It is out if pocket and extremely expensive.
I would take that the severance
Vzw is going 2 try and rebadge full time employees 2 contracters. Once your one year contract runs out you’ll be out with no severance. TAKE THE SEVERANCE and run!
@ca It’s not necessarily discriminatory according to Google and other online sources
When Asking Is Legal vs. Risky
Permitted: Isolated, casual inquiries or long-term succession planning that applies to a broad group of workers rather than just older staff.
Unlawful: Pressuring, harassing, or singling out workers age 40 and older to force them out of their jobs.
Evidence of Bias: Frequent or repeated questioning about retirement, especially if followed by a demotion or termination, can be used in court as proof of discriminatory intent
https://www.klinglerlaw.com/faq/can-an-employer-safely-ask-when-an-employee-plan/
You know when you have to rif an employee and you don’t want to, you drop as many hints as you can. Kind of giving them a heads up.
@OP if you can retire go for it if you can't survive RIFs before retirement. If you can survive RIFs long enuf to retire, then VZ will subsidize your insurance, and you need to consider spouse/family if you have them. Severance looks nice on paper with cobra, but that cash will run out then you're on your own. Severance can also jackup your tax bracket depending on when you are off the books, and that will make insurance more expensive. It's a die roll, but if you don't have something else lined up with benefits and then get RIFd, you're gonna have a lot of out-of-pocket costs until you reach 65. I say try to retire if you can, or hopefully try to survive a RIF until you can retire.
Management has to pay for insurance when retired. Get the severance, plan accordingly.
Managers cannot directly ask an infividual employee if they are ready to retire, that's an overt act of age discrimination.
OP, it's a blessing in disguise. You should take the money and run!
If you have over 30 years or are of retirement age, go. If you have 40 plus years, go. If you are in your 30s or 40's play roulette. Don't be one of the ones who are 65, have over 40 years and try to stay. Go find meaning somewhere else.
@aj wdym retire to keep insurance? Is that for union people?
Sometimes people close to retire don’t do the math and leave severance money on the table. I think he is just being considerate to two lives around him.
One he may have to let go soon and another ‘if’ close to retirement who may leave without taking severance package advantage.
@OP Take the opportunity to start planning now, clean up the resume, start the job hunt now. It could take awhile in this market, but get ahead of it. If it happens, at least you are ahead.
@aj , what insurance?
People are being told to train AI managers to terminate their own jobs by the end of November. Another 6K, in this round, engineers, and sales support.
You are lucky if they offered u the package. You won’t get anything if they rebadge you.
@OP You’re not overreacting. It won’t necessarily be for the coming RIF but they’ll probably push you to retire within a year or two so prepare for that contingency.
BTW, rest assured your SD will be in your spot within 2 years or less.
You are correct.
Retire to keep the insurance and then look for a PT gig.
Just be ready. They are laying off people left and right before and after major layoffs. Always be ready. Do not let Verizon determine your success and your peace. Just keep in mind you myself and all Vteamers are just another salary for them to continue optimizing their operations budget.
Best of luck!
I don't think you should worry. To my understanding quite a few people volunteered this last go around. He's probably just trying to make his life easier so he has fewer hard decisions to make next time.