This has been alluded to. Can anyone in a position to know advise if it's true and what the criteria/offer will be? Many are wanting this and it would be a win-win. You want to reduce staff, we want to leave. Plus with a buyout, the company doesn't pay unemployment, so it is less $$ for them. They would probably get rid of the highest paid, closest to retirement folks who are burned out anyway.
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I agree that I should have said the only early retirement package I know of is…
That aside the rest is true
It was offered to those 55 yrs and older with 10 or more years of service
I was part of the group that it was offered too and had plenty of contacts in IT and Mason
Yes normal severance is capped at 26 weeks
But I was writing about was an early retirement offer as per the topic
Retire for what reason? There are no retirement benefits for those of us hired after the retirement medical savings account contributions were stopped and we have no stock options as a benefit. We put in two weeks' notice (if that) and move the 401k funds elsewhere. That is what I call retiring from EH!
@GimmeABulletPlease
Most of the information you shared is flat out false. Retirement packages have been offered multiple times, just because you don't know about it, doesn't mean it didn't happen.
Severance has been capped at 26 weeks for over a decade. The notification period must be at least 30 days (even if it's not worked) but can be 90 days.
If someone is 55 or over and has at least 10 years service in can pursue retirement.
Has anyone heard anything more about the voluntary retirement packages being offered on 8/8?
In the past 25+ years, at least from an Anthem point of view (meaning not what happened at Wellpoint, Trigon, WellChoice before they became part of Anthem), 8 years ago a package was offered. This is the only occurrence, to date, that this has happened. At that time, folks were given 9 months severance. I believe this was before the rule of signing up for state unemployment (which is based upon your state's rules). With this package if you signed up for it you could not change your mind.
At that time, Atlanta was the major IT city. Mason, Ohio was not an IT city at the time. Shortly after that package offering, Mason became an IT and for those Mason folks that chose to take the package they could opt out.
Given that there has not been any confirmation of a package in 2024, I am doubting that one will be offered. Only HR and execs may know and it does not looking like they are playing here.
Information on severance, if it is offered, can be found on Workday if you search for Retirement. The Retirement page talks about all the situations that might apply to you - voluntary, involuntary, RIF. Severance due to a RIF is on the bottom, and you can click on a link to generate the official document and guidelines.
@1mxc+1tcNF1Vb no need to be rude @xsr+1tcNF1Vb makes a great point
Getting burned out isn't due to age at EViLance -- it is due to the nonstop mind games and reorganizing and constant fear of RIFs we deal with on a daily basis.
Ageism??? dream on, Bambi. It's call reality.
There is no retirement at this company, except for the voluntary 401k. There is no pension. I don't think this will happen, unless you are an executive leader.
Ageism, just because u are close to retirement doesn’t mean you stop learning, caring and working. Burn out - it can happen with some-agreed, but can equally be true of all generations.
I was laid off five years ago and will be retiring from my current co in 3 months, however I’m still learning new updated technology as it is needed for me to continue performing my work effectively.
Please don’t assume someone close to retiring is burned out. Everyone will reach retirement at some point. In the meantime we can all continue to learn from each other. Thank you!
Yes it’s called lay offs!