RIF'd after 29 years with company.
I'm retirement eligible, but there are absolutely ZERO retirement BENEFITS!!
Seriously.....extremely high healthcare costs, and a 25% disc on cell service.
That's an insult to any employee that stuck around this sh---y company for so long!!
DO NOT WASTE YOUR CAREER HERE....LEAVE NOW!!!
@km Weekly trip to McDonalds? LOL Hey Mr 'he thinks he knows it all", the 29 years is from a company buyout. No pensions from a company buyout.
@jz - @"They froze the pensions in June of 2006, but if you have 29 years of service, I question why you don't have a pension."
May be the equivalent of a monthly trip to McDonald's.
@OP not sure of your history with VZ (GTE, fMCI, Bell companies), but when I retired with 35+ years of service, I got a very nice lump sum management pension. They froze the pensions in June of 2006, but if you have 29 years of service, I question why you don't have a pension.
@gs not true. They extended the 50% for ONE year for recent those recently RIFd.
@a6 this depends on whether or not you qualified for a subsidy. Mine was 29k a year for me and spouse. And I had the top tier EPN that was phased out a couple of years ago.
A few months ago they increased the retiree rate back to 50%. The requirement is that your account is active when you leave. If your account is not active with Vz then you lose out on the discount.
@ch The truth of the matter is, companies are getting rid of shouldering the cost of health care. Healthcare on the open market is incredibly expensive, with no end Corporate America is concerned about their profits. Not your health care. This has been a political football for years. The so=called fixes have only been deceptive band aids.
Here's the link to all Verizon's retirement "goodies!"
https://www.verizon.com/about/our-company/retiree-information
Unfortunately, even another 29 years wouldn't mean anything towards enhancing what you're eligible for in retirement.
Makes me wish I had went to work for the Federal Government.
I'm retirement eligible, but there are absolutely ZERO retirement BENEFITS!!
Seriously.....extremely high healthcare costs, and a 25% disc on cell service.
That's an insult to any employee that stuck around this sh---y company for so long!!
DO NOT WASTE YOUR CAREER HERE....LEAVE NOW!!!' - @OP
Or, simply unionize.
Even with the 25% retiree discount, my TMO bill is $50 less per month. (Service only, highest TMO plan, paid cash for phones.) It’s no wonder, so many fellow former Verizon employees switched their service. I feel valued as a customer there.
@ad mismanaged? Are you not in on the scam that tips the scale against the middle-class investor? They have to lose their shirt every once in a while to enrich their betters.
@OP Medicare is only part of the equation. Medicare is not free, and does not cover everything. You also need a good supplemental plan. The Affordable Care Act gets all of the attention, with nothing said about the incredible increases for the rest of us.
this is not old AT&T with pension. you have wasted 29 years not knowing?....you are old enough for medicare....good luck...
For those people like myself who have a preexisting condition, I need to stay on the company medical plan after I retire because other insurance companies probably won’t approve me. If they do it will be at rates higher than what the company charges. Su-ks to be in this situation but is what it is.
Your retirement benefit is the 6% match. If you mismanaged it, that’s on you.
Company-funded retirements are a thing of the past. Hopefully you contributed to a 401K and took advantage of the company match and didn’t live your life trying to keep up with the Joneses.
@aa why would you keep your number. Oh they gave you a free phone and plan for personal. That seems nice
But wait they will also let you keep you cell number if you are really nice.
@OP why should they hold your hand and support you after your gone. You got paid well and great retirement. Verizon's fault
@a1 Managers and above keep there discount and they get the free phone
It's incredible. The reduction of the retiree discount (after having a combined 75 years of service AGE +Tenure) to half of what it was, was the beginning of the end. A company that does not care for its employees who put in a quarter of a century of time is telling, sad and a kick in the nuts.
Not $36k for healthcare for you and your spouse its $42K
@a3 Retirees used to get 50% off service, they changed it to 25% right before the 2017/2018 RIF/VSP window.... coincidence? greedy b@stards!!!!
29 years you should have SAVED YOUR MONEY! You will double dip when they hire you back as a contractor!
Agreed it's terrible, 25% off and then you 'get to' pay $36k for health insurance for yourself and your spouse!! Insane!
Abandon ship to Tmobile.
Totally agree. 25% off in cell plans - way more expensive than the marlet. At least 50% off same as current employees.