Two of my colleagues were affected few years ago and last year. They both got 2% per year they served in the company. It’s that still a thing or it’s changed because I see a lot of post here in the past regarding severance.
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@c9 Your TOE for severance is calculated on your current term. IOW, from your rehire date if you have a gap, even if your time is bridged.
I was surplused in the recent October 23 event. Severance is calculated based on Term Of Employment (TOE) at time of severance. For 13 or more years TOE, it's 50% of annual basic pay. From there, it drops 4% for each TOE year under 12. For example, 12 years TOE is 48% severance, 11 years 44%, and so on to 4% for 0-1 years TOE.
That is a union question.
Your severance depends on your hiring company, your state, and your bargained-for status. Check the internal HR site.
1 week per year if you live in NJ and are laid off during a warn notice
Management severance policy can be found on HR one stop. Apply some common sense and go look at the table.
Post is unclear.
Severance plans for management and bargained for are in HR One Stop. Go there and search on “severance”.
As someone mentioned, management caps at 50% of your annual salary.
There is a schedule on how much severance you get, sounds like you’re still an employee so you can pull the policy. At 10 years of service you get to 6 months, so it is more than 2% per year.
Taking the pension as a lump some is a total portfolio assessment based on your assets and your retirement cash flow. Work with a professional on that.
woops i meant take your pension as a lump sum...
you get 6 mo.s pay severance if you have been in T long enough, can't remember how long, the sev payout came pretty quickly...take your 401k as lump sum too....