With interest rates rising 2.5 to 3% this year and given that lump sums drop 10% with each 1% interest increase why would they pay severance?
8 replies (most recent on top)
“My lump sums for my 2 pensions aren't impacted so I will need severance pay to leave. Many more in my same circumstance with a pension's lump not impacted”
Please elaborate on how your lump sum isn’t affected by rising segment rates. Are you management or craft? Just asking for a friend
What the op means is you will retire to avoid losing over 100k on your lump sum. No layoffs needed and no severance due.
Any ethical company will pay severance.
Severance is integral part of layoffs whether union or management. And with the rates are going up your pension is going down. You will want that severance badly.
T isn't going to be paying anyone to go home permanently. They have paid out enough the last 2 years in too many cases with full-time telecommuting.
My lump sums for my 2 pensions aren't impacted so I will need severance pay to leave. Many more in my same circumstance with a pension's lump not impacted
Bargained for personnel will certainly get severance if they're impacted due to the contractual obligation. Bring it on, I'll take the layoff!
Agreed. They won't offer any severance.