Got Pip’d this year. Not quite 56, RE. Is there an advantage to not accepting the PIL, and not signing the waiver? Is the waiver hush money, how would it hold up in court of law?
My two options - take pay in lieu or just give retirement take and go.
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Technically NREs don’t get PIPed. They receive “documented performance counseling” that does not result in their termination.
Near retirement eligible let go for performance would be an age discrimination lawsuit eligible for sure! You only have one part of the RE (55 and over) but 3 years away from required 15 years for the second half. Will not risk lawsuit.
Does anyone know why NRE over 55 with 12-14 years does not get the PIL option? I personally know someone who was given only verbal confirmation that they are on PIP but no PIL option. It all sound fishy to me.
NSIed last year. Best year ever. Thank you. What is RE?
You can take the PIL and retire at the end of the 3 month paid vacation and get a bonus payout for your unused vacation.
You can do for taking your pension to whenever you want. However if you want to lump sum your pension then you can roll it into Voya, they have proprietary investment plans are very good. Good luck!
One of the main purposes of this 8% NSI is to force REs out. At this point XOM thinks they can couch this as performance not age discrimination. Two years of PIP automatically gone so not sure how you think this person will survive past 57. The less than 5 year NI PIP is collateral damage and also growing realization that we don't need many young ones in a declining business. What work needs to be done can be handled by India and KL.
Most RE will survive PIP, I think the real rule is no 2 consecutive years of PIP. Especially if you dropped to the NI/NSI a bucket recently. Force them to fire sub 5 year people instead (far easier than a young person than 57 year old who has protected status under the discrimination laws). If you want to work another year of two, force your boss to do his job and document the PIP. You can cruise to retirement at 57 if you PIP next year. PIP is actually targetting sub 10 year people who have no real growth potential. Do not expect pay raise, but you will get to 3 year average, then optimize retirement based on interest rates. You have full optionality on your future. Document your BOSS, you can get even with him in exit interviews.
First and foremost - in your situation, spend a K or 2 on a labor lawyer.
I'd say take the PiL 3 mo. and Retire.
If they require you to actually come to work for 3 mo.:
Be the most subtle Nay-sayer and disagreeer ever seen.
Not belligerent - just chuckle every time your L1 or Manager says something wise.
Don't pound the table, but certainly tap it with your pen.
Show everyone what you've doodled on a sticky note at the end of a meeting.
If it doesn't bother you, fill up on beans every morning at breakfast.
Show up late and leave early.
Talk about your retirement party plans all the time. Lobster? Cheese-plate?
Print out every Retirement relevant corporate document possible - 2 copies is best.
If you feel like cutting out after Lunch - let the Super know you are going to see your lawyer, so it is 'company business.'
Of course, remove all your personal belongings on day 1 of this endeavor.
What is for sure is that even if the PIL is still an option this year, an RE put in NSI cannot be on the payroll past December 1, so you can’t “hang on to get more money”. The true difference (besides having to come to work after being arm-twisted into announcing your retirement, if there’s no PIL) is that in the case of PIL you can get money for unused vacation, which with a COV of 10 days could be about two months of pay. That’s the money that the company seems to want to yank away from employees this year.
A lot of confusion around the PIL this year for REs put in NSI. I’m not sure how this is going down, but let’s at least clarify the possibilities: if the PIL is still an option, like last year, then the employee would have to be notified three weeks in advance of Sept. 1. The employee would have to declare in writing that they will retire no later than Dec. 1, and PIL would cover September, October and November, time during which the employee would not have to work. Any unused vacation cannot be taken and will be cashed.
The no PIL version would also require the employee to declare in writing that they will retire no later than Dec. 1, but they will have to come to work or take whatever vacation they’re entitled to until Dec. 1.
So the difference is that you might have or not to work from September to the end of November, and you might get cash for unused vacation or alternatively be forced to use it sometime from September to the end of November.
Some people posting here say that they’re REs put in NSI but don’t seem to really know which version is effective this year. They should ask for details and hopefully post it here.
I thought that the PIL & Retire option was removed for 2021 (only PIL & Resign remaining) ?
Another thread allegedly showed a letter where the only “Retire” option for NSI’s was to continue working but retire by the end of the year.
I think you just have the 2 options, other courses of action have been discussed extensively on this board but I haven't seen any realistic alternatives, if someone has one I am sure they will post it
PIL - take the peanuts they give you and leave now, never return.
Work till the retirement date - Maybe you will leave on better terms or that feels better to you.
I chose the PIL and retire at 56 option because the PIP was unreasonable in my case, they made it too hard to do.
Do you like your job, or perhaps do you think there’s a way to pass the PIP and continue working? Do you need the extra few years’ salary before retiring for kids’ college, mortgage, etc.? If yes to any of those, go for it, otherwise consider retiring.
I’m in the same boat, I’m going to take the PIL and retire, you can take the PIL and retire at the same time. Most people take the PIL and get three months paid time off and then retire and those who just retire without the PIL want to stay around longer to say goodbye.