Anyone get this yet?
11 replies (most recent on top)
Must be 60 or older to qualify, plus 15 years or more of service. Two years Cobra insurance and 8 month payout.
I guess if you want out and can afford to retire, it’s ok, many people don’t think they can afford to retire, but when they do finally retire, they realize they could have retired long before they did.
The other option is do nothing, they may not even get rid of you, that’s how it goes, you could get a couple years of doing nothing, if they do let you go, collect severance and Unemployment.
Payout range - lowest and highest
Grade 6-9 = 4 months pay
Grade 10 = 6 months pay
Etc. to this
Grade E3 or E4 = 13.5 months pay
The rich get richer
My first ever social security statement came today, here is an example of what you may get if you get offered a package, at 62 mine is $1701 a month, at 70 it’s $2990 a month.
Hope it helps somebody figure it out to see if it would work out for them, maybe you don’t need to work?
For me I will take it at 62 for sure!
@1a7 It was offered to 60 and above with 15 years.
Are they actually offering people 55 or 60 early packages? That doesn’t seem like it’s something that would happen, the usual tactic is they try to make people so miserable they quit.
Depends on your grade
I would hope they would offer a years salary at least, losing healthcare is a big concern as well, if not, being terminated would work out better with severance pay and unemployment,
Just sayin the truth
age 60 or over with 15 years of service.
Unlikely, but might be similar to package offered back in late 90’s.
X amount per year of service plus a kicker of Y amount. Needed to have age plus years of service greater than 55 as I recall.
What would that even look like? Anyone have any details on what the offer would be