gen z, so i am ofc not eligible, but some of my coworkers retired with that. WTF is that? Cigna pays like 50% of salary at retirement forever? idk.
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@b8 it’s only paid out for 52 weeks max . After that it stops .
@cf not every year . The payout on vrp is getting a paycheck just for the following year based on years worked . So if you qualify for 52 weeks of pay it lasts a year and then it stops. The healthcare subsidized is basically you paying close to what you always have for healthcare . Not high like cobra. They subsidize enough for healthcare during that year so it’s about the same
Band 2— I took the 2025 package and retired at the end of 2025-my manager needed me til then for fourth quarter.
It is 2 weeks pay for every year worked up to a year. You get paid every 2 weeks. If you need cobra , Cigna subsidized it. Prorated your bonus. Paid you for any PTO not used. One more thing I can’t think of so it must not have been important or needed by me.
Not sure what the 2026 package consisted of…
@ac it’s two WEEKS of salary for every year worked UP to a max of 52 weeks. PERIOD. After your severance is done they stop paying. There are no lifetime benefits.
@cc JE DOES get subsidized rates during severance.
You are incorrect. Go to HR central and search for Cobra 2026 rate sheet. Page 3 is the Medical, Dental and Vision Costs During Severance. Both VRP and JE are these subsidized rates. They are the same for both.
Difference between JE and VRP - VRP works a few months until they retire. JE may work a few months or be "out the door" the same day. They do pay JE for 1 month before severance starts (minimum) so that all paperwork can be completed.
Get your facts straight please - I was offered it and declined. It is 2 weeks of pay for every year you have worked at Cigna maxing out at 52 weeks regardless of band or tenure. You get a pro rated bonus and one year of additional vesting if you received any incentive awards of stock. If your stock doesn't vest within that year, you lose it. Also contributes to your healthcare for a limited amount of time.
Good to know. So, other than the 1 time payment and subsidized healthcare, anything else for VRP?
@cf The one time severance pay will be spread out every two weeks until completed (3,000 x 20 pay periods = 60,000) By spreading the payments out over multiple months the company can have better per quarter earnings/loss results.
2 weeks of salary makes sense.
If a person works for 20 years and their weekly pay was 3000, does that mean one time pay of $60,000? Or $60k every year?
@ca One caveat - the JE vs VRP.
The biggest different for some folks was healthcare. If you took VRP - cigna would subsidize a portion of healthcare. If you got JE’d. there is no subsidy.
It’s the exact same as severance for job eliminations. The only difference is the person opts in if they meet the age and years of service requirement. He-l if it was what you described I’d opt in immediately! This is not the government! :)
The VRP is two weeks of salary for every year worked, max of 26 years / 52 weeks.
The cost savings comes over the next 3-6 months (one-two quarters) after the severance is paid out for most of the prior VRP employees.
Its nothing like that. Someone i know just took.it. I'll ask.
If a person works for 20 years and retires with $100k salary, then Cigna pays $100k for the next 40 years?
Wow. But how does that reduce costs? I thought VRP was supposed to reduce costs.
2 years of salary for every year worked.