To a years of service + age = magic number for full retirement pension, a lot would just retire without a severance offer. Looks like this would cost the company less and get the salaries off the books and onto the pension program. Then they could hire 2 for the cost of 1.
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@19c this makes too much sense, this it will never happen
SF Health ins when you retire is very expensive. Yes if you make it to 55 you can carry the health ins thru SF, the supplement is good thru SF when you get to 65 and can get Medicare. But it's cheaper to get health insurance from somewhere else between when you retire and when you get to 65. A TM once told me that Sf is so expensive because they really don't want you to take it. My financial advisor says don't take the cobra offered by a company in most cases.
They have over 150 billion paying pensions is not even a conversation
They have been 100% transparent on the automation piece for at least 7!years. Guidewaite now called policy center streamlined about 80% of all underwriting and policy issuance processes eliminating the need to manual do these tasks.
If you don’t know this was coming you clearly don’t pay attention in meetings for the last 7-10 years.
You have to get to 55+ with the pension to get SF healthcare! You can delay getting your pension, but select to receive the healthcare.
Please elaborate on sf allowing you to keep the health care? I have not heard that.
better....allow everyone to keep their current health care option with state farm paying as it's doing now.
Let's just all quit and get on food stamps and let the democrats work and pay our way.
Now you're talking! That is part of the plan! Gotta freeze it...inflation is going to ki-l them with the pension contributions and also with PTO. Going to have you paying more for benefits too and less time off! The modern American slave worker! You have to give us 50-60% of everything you make in taxes. If you pay off your house you still have to pay us property taxes. If you fail to do any of this will take it from you or send you to jail! We print money endlessly and send you and your grandchildren the IOU, while devaluing any money you have managed to save or invest. The United States has turned into a total scam! SF is trash!
Or they could just freeze the pension. Buyout everyone with less than ten years. Then let inflation render the pension worthless over the next few years.