I retired last year . How will I be notified regarding the amount of my prorated STIP for 2024? Is it a direct deposit into my bank account or mailed cheque? Thanks in advance!
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If you are retiring before the year is out you’ll get pro rated. If you retire at the end of the year you get your whole STIP when everybody else does. I doubt if you get a notice you probably just get paid. As to how that happens I couldn’t say…I can’t believe that wasn’t mentioned when you were retiring.
I believe you have to be employed when stip is paid out.
Current employees received an Email today. It said we will split the 650 layoff stips. Including retirees amounts. So little top up 😉