Heard that State Farm is announcing a mandatory buy out of all Legacy PTO banks. Is it true?
13 replies (most recent on top)
This rumor was debunked by directors months ago. Not going to happen
ECONOMY UP INSURANCE DOWN. In a good economy if you work in insurance, you need your head examined.
T2 stunk from day 1
@6hie+1vArytwM
this person has no idea how legacy PTO works, you can use regular PTO first and not touch legacy , most that have it don't use it so in a rare emergency like medical they will have a nice reserve to use , most if not all do not cash that in, as for a buy out i am not sure its something i would like to do but if its happening i highly doubt the will give anyone a choice, it will however pi-s people off and since its clear they want people to leave because they don't want to directly lay off people they are trying anything to push any one out with Legacy PTO , or that has been there along time and has a pension, they desperately want to have very high turn over on a deluded idea that it will be cheaper to be constantly hiring new people when in actuality it is costly and saves no money and work suffers, this company does not reward loyalty and the only card they have left is legacy PTO and pensions, its while they new hires leave in 6 months or less and old timers have to keep this sinking ship afloat , i guarantee if the old timers left this company would not last as if you got no one that actually works and you want high turnover everything will suffer and implode.
no i don't think the want to get rid of legacy at this point, they thought they had the upper hand with "recession rumors " however its not that simple and people can still get employed easily as new hires leave all the time for better offers, so they are stuck for now, another thread mention return to office rumor they "heard" it wont happen, SF has no upper hand here they need people more than people need their jobs, proof they just gave major raises to keep people from leaving, they blinked on this game of chicken and will not rock the boat for, even if they want to they cant yet but know this the moment they perceive they have an upper hand and \if a recession happens in 2025 they will try to pull another stunt to get people to leave as they will perceive people are desperately trying to get a job however i think 2025 will be a better economic year with more work opportunities thus they got nothing.
@6hie tell us you don't work here without telling us you don't work here. You've never had to use the legacy bank first lol
Ask your manager? why ask this place hardly anyone who post here actually works here. If they did, legacy PTO is like a decade old at this point, im not sure who would have saved legacy PTO for that long, considering you need to use it first vs new PTO.
Sounds like the resident forum troll trying to post negative stuff, but since they dont work here, it comes off as just a petty attempt to trash the company.
How long ago was it since you last worked for SF? Youve been here posting BS for quite some time
You will be real happy when they buy out your pension or freeze it!
Kick in b@!!$ since it’s nearly impossible to use the time as it is so now they’re going to buy it out? I’m doubting this to be true.
Anyone who hasnt sold their soul to the devil who isnt a SM or above should read the hypocrisy and lies they sell. No longer any future or anything to make anyone want tp stay.
This is terrible news I am so sad
Remember. We have a choice to stop enabling them by not paying them.
All of the employees have to pay somehow for the kings 45 to 50 million dollar gulfstream that flies at .8 mach plus while costing tons of money for pilots and maintenance so they can preach about controlling costs to the employees and the policyholders. Then they wonder why the forgotten ones have had enough.
How many people would this affect anyway? It’s been many years (around 8) since T2 started.