For those of you who got RIF'd and then were reimbursed, supposedly in the final paycheck, for unused accrued vacation days, are all the deductions like medical and dental taken out of the pay for the unused vacation days?
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@qb From my understanding, there is no real benefit to claiming retirement other than saying you're retired. It was mentioned that claiming retirement could negate your ability to collect severance. When using the rule of 60 to get a full year PTO you want to ensure the distinction between "retirement" and being eligible for the rule of 60. They are different. In a RIF, you are not retiring. You are being laid off. If you happen to meet the age plus tenure of 60 years, then you get a full year PTO. NOT the same as retirement. It's just an added nuance to the RIF.
What are the retirement benefits BTW? Is it something extra than severance?
I don't fall in category of Rule 60, I took a vacation and my manager submitted the leave request leaving the sick and personal leave and booking all the normal leaves and riffed me. I am Riffed on Feb..because all my leaves were exhausted would they pro rate and cut money?
@h1 I haven't gotten it yet. I still have 2 mos to go in my non working period. But According to the other thread, some RIF'd in Jan got the Full year PTO payout and it was itemized on the stub.
@em did the pay stub itemized the vacation payout? I meet the rule of 60 but not in retirement age.
@em but did you get it? They used to have to code something differently despite being subject to rule of 60. Maybe that’s changed. Whatever….
@eb That's me on the other thread. You do not need to claim retirement. I asked for clarification for that very reason. If you meet the rule of 60 you qualify for the full year PTO and you do not have to claim retirement. I got my full package and qualify for rule 60 for full PTO.
@dv someone on another thread says that, if you meet the rule of 60, you need to tell HR that you are retiring in order to get paid for all unused vacation for the entire year. I did not read the FAQ sheet that way. Does anyone here know? I am rather afraid to mention the word 'retire' to HR because Citi's official Separation Pay Policy document says that retirement makes you ineligible for severance.
Fwiw, if you meet the rule of 60 (age + tenure) and you were laid off, you are entitled to the entire year's vacation time. Not just what you accrued.
Nope just regular taxes. And yes, it came in the next period with the 1 week they pay in arrears