To age plus years of service equals magic number for full retirement. Employees will retire without an exit severance pkg.
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Funny how we don't work any overtime anymore since its not taxable. They were probably sc--wing us on that. I also have never trusted that they don't sc--w us in our 401k. This company has already proven itself corrupt and dishonest, evident by the many lawsuits pending over CA and OH. They lie to their employees daily. I dont believe anything they say.
The evil part is what they say they pay plus what we pay. It is an extremely ridiculous amount. No insurance should be that high. I don't believe they pay what they say they do.
@kd I'm amazed how evil State Farm was by paying those high medical insurance premiums for us all these years without telling us how much it would cost under Cobra if we had to pay them on our own.
Got my cobra estimate retiring early it’s like $1200 a month. Better check your fiqures before you pull the trigger on retiring early. It’s an eye opener!!
@OP you forget the biggest issue at hand has nothing to do about retirement, and everything to do with paying cobra insurance
@e4 why is the renter generation so afraid to compete with boomers in the job market?
Sure, we run circles around you at work, but companies realize we will be leaving eventually and must keep the renter generation around while they are learning how to tie their shoes and deal with other complicated tasks
There is a 5% increase in retirement benefits each yr age 55 to 61, and 10% from 61 to 62. How stupid of the company to make people stay to 62. Changing this alone to 5% would probably allow some to go on out.
So moving forward the only places to work at SF are going to be in Systems, HR, Marketing, Process or Auto/Fire claims. Few other tiny departments. Most people do not have the skills to work in Systems, HR is pretty small and most people do not have a HR background, and Process is about the same as HR.....that basically leaves jobs in Claims which is a complete and total nightmare hellish landscape. Claims tortures its employees to destroy their soul. Long story short....if you can get severance, run as fast as you can. These is an evil company....this does not get better....
This would create job openings for employees that want to stay that are in affected areas.