Is anyone who was laid off within 5 years of retirement?
30 replies (most recent on top)
@3tp Ditto
I was 59 when I got the boot
I was 53, with 22 years of service.
I was 55 and had 30+ years of service… exceeding expectations.
Been here 12 years and I’ve never seen or heard of anyone getting an “Exceeds Expectations.” I think of that rating as some kind of very rare, never before seen, or maybe only seen once or twice, creature like Big Foot or the Yeti. I’m okay with that as I’ve have nothing to compare it to in this organization. It only took a me three years in the service to get and keep an “Early Promote” rating until I retired. Here it’s unattainable.
The RIFs have affected various ages for the last few years. They may of course RIF some close to retirement, but they have released associates that are young and middle -aged too. I've unfortunately known many over the last two years including those RIFd last Wednesday. So wrong!
This might deserve to be a new topic, but let’s talk about what they get in return. I came back. I earn 75-80% of what I earned before. And now they get 5-10% of the value of out of me they used to get. Really smart decision making. We’re all just exerting minimum effort with no ambition. You’ve punished us for excelling. You’ve dissuaded us from growth and development with lack of opportunities, low raises, and in office mandate for leaders. There is nothing left to motivate us.
51 years old, meets and exceeds expectations on reviews, 28 years of service and RIF’d! The other 2 who did the same job as I did were younger and lived in a different state! So definitely let go due to my age AND my years of service and where I lived (CA) which = $$$$$$! They don’t want to pay me anymore! 🖕🏼MF’s!
@pd They also nuke POCs. In my long experience with the company, they sacrifice a couple of white 30-somethings to neutralize the black women and people over 50. If you're in one of the latter two groups, once a prospective attorney requests the rolls from the organization, they back off because they aren't going to be able to easily prove discrimination. A former colleague of mine was told this by two attorneys who independent of her case thought she had a good one until the rolls showed a few young white folk, and then they bowed out.
Don't ever forget, this company has attorneys on staff. Their decisions are legally strategic.
@pb I got a financial advisor -my 401K money was managed there to a great result -sold my Anthem stock a year before it was really tanking - thankfully had health insurance with my spouse that didn't force me to buy the Cadillac model for house account to further fund this toxic place with no choice on our part. Hit 65, had 15 yrs and walked. Best decision I ever made.
You need a plan just in case they decide to RIF you or you want to RIF them - and it is true they use younger associates to cover for high paid older associates RIF. And why did the older associates have such a high salary - well, they worked here for years, when leadership had integrity, when merit was easy 7% range, AIP was over 100% and salary was looked at every couple of years to assure we were within market - many of us got sizeable adjustments in 10K range to make sure we were competitive- all of that made us an easy target when RIF time came down the road.
@OP Yes, I was 59 with 30 years of service. This is typical.
They will RIF a younger person to cover for the two 55 plus employees they RIF'd. I've seen younger employees who were very good RIF'd in the same group that a few older employees were cut. It is a horrible company. If you can get out, please do.
The old rule was you could qualified to officially “retire” from Elevance at 55 with 15 years of service, or at 65 with 10 years of service. I think that has been scaled back some now that they offer fewer retirement benefits, but I’m not 100% sure. As far as withdrawing money from any retirement accounts, you’ll have to look that up. I’m not sure what those rules are. I was only referring to retirement status from Elevance.
@he can you explain how the rule of 55 works in regards if you are rifd. Is the penalty for using 401k early lower?
@gt No. All that stuff is BS and subjective. When you get the excel spreadsheet after your riffed it will have some things listed that sound very associate behavior stuff. But then when you get read the riff script they will say it has nothing to do with performance. The riff list is a way of “ranking” people but if your manager doesn’t like you they will put in whatever they want , or whatever justifies getting rid of you in lieu of someone the like. Sometimes mangers don’t have much say and in those cases I think pay influences the decision even though many on site will say otherwise. I don’t know how all this anecdotal evidence is wrong.
The bigger question is what were your years of service at the time of your riff? I believe you will find that most were near or over the 20-year mark. That isn't a coincidence.
I was 60 years old and 21 years service
Quite a shock, but so glad to be out of that mess.
I was in my 50’s and it seemed like others in department who were riffed later were also 50 or older. When I was riffed they had riffed another at that time in their 30’s but I feel like it’s a smokescreen. When the other people over 50 were riffed I didn’t see any younger people riffed. I think they throw in a younger person to say it’s not discrimination.
@OP I was 61 at the time I was RIFFD and definitely had a higher salary than most of my team.
Ditto, riffed early 50s with enough years of service to retire at 55. And with consistent exceeds expectations ratings including the 2 years before I was riffed. Performance review means nothing. I had a high salary compared to others who were kept (because my value was understood by many). I’m sure salary was the only factor in them choosing me. It’s not even retirement eligibility, but it often goes hand in hand that those high in their pay grade range are the older team members.
I was mid 50’s and actually the second youngest in my group. A couple were in their 60’s and I wonder if they were not selected to “prove” it was not age discrimination. No worries, I was glad to get laid off and several on my team said they wished it had been them instead .
Always exceeded expectations and hit the 50 year range and was riffed.
Are associate behavior categories in the performance review also used in deciding RIF?
59 and 62 in my group
A people manager here. I was told that my average given rating has to be 3, “meets expectations”. So for every “exceeds”, I’d have to give a 2, “partially meets”. So I feel like have no choice but to give a “meets” to everyone who is at least trying. My own reviews are always a “meets” too, even with my VP putting down very glowing, complimentary comments and has nothing to say on what I could do better. Also, HR has told me performance is #1 metric in deciding who gets RIFed, followed by tenure in the position. So excuse me if I am very skeptical of someone who says they get “exceeds” and got RIFed.
I was an above average performer then I got a new young manager who threatened to put me on pip because he think I was not communicating well with him. About 2 months after that threat I was RIFed in October 2023. I had 7.5 years and was 53 years old. I was encouraged to look around for another job but decided not to. I now have a job which I really love and most of all I am getting 65% more than what I was getting . Don’t underestimate your value and there I life after RIF.
@cp I've only gotten one in over a decade. Otherwise, my managers tell me, "obviously you exceeded, but I couldn't give you that rating."
I’m surprised of all these people talking about getting “exceeds” ratings. I know for a fact that very few people get those and you have to practically die on the line of duty where I’m at to get one. I’ve been here 15 years I’ve only gotten to for what I understand. I’m talking to my coworkers. Everybody just gets the meats expectations every year.
Yes, was 59 with 35 years. I had always received an exceeds on my reviews. All of a sudden last year I received a lower review out of nowhere; while putting in the same work & giving up my nights and weekends. They had it planned. I was mad; but in the long run; that stress of a RIF is no longer hanging over my head. I received a job offer matching my pay of 35 years at EH. Life exists after EH! I don’t miss it; but I miss the bond with my coworkers. I sleep peacefully at night now.
In recent ones, I don't know. In historical RIFs over the past four or five years, I personally know several who were near retirement, but just far enough away from it that they didn't qualify and instead got the standard severance. Think, 55-61. All high performers with a legacy of "exceeds" in their wake.
Anthem tends to be very strategic about its RIFs. They're careful to term a few people in favorable demographics, but they always include a measure of olds. But just few enough compared to the rest for plausible legal deniability.
Currently, it's a hellscape and no one is safe, but in prior years of the usual RIF cycles, "favorable" demographics seemed to be sacrificial lambs to get rid of the old-timers.