I know we just got through yesterday and rumors of Oct and Nov cuts to come.
There is now a rumor of cuts in Feb 2024. The logic is to not minimize impacts to end of year/open enrollment. Another benefit, to the company, would be it would lower the amount the company pays out for AIP - as you have to be employed on the payout date.
If you retire or are RIF’d, you get AIP in March of 2024 based on your total 2023 earnings (supplemental unemployment pay does not count, nor do payments made after you leave the company. The only way you get 0 AIP is if you quit.
I retired in October 2022 and got my AIP in March 2023.
To the M15 who commented. I was riffed in October of last year and I still got my payout in March for a prorated amount.
From what I understand this question was asked to HR during a RIF call yesterday and it was confirmed they are eligible for a prorated amount.
It’s also in the policy language. Is all of this wrong and you are right?
Not sure where some people are getting their information from regarding you have to be employed the day the AIP is paid out to get it is totally bogus.
I was riff'ed in Sept of and still got the prorated AIP value from Jan to Sept when AIP was paid out the next year in March. Now if you leave voluntarily before AIP is paid out, then perhaps you will not be eligible for AIP.
My downvotes are hilarious. I've been here for a decade; anyone who thinks they can get riffed the year prior and still receive AIP, well, I hope you aren't spending that money before you receive it. The only way you'll get ANY of it is if your manager fights for you, and if they put you on the list, do you really think they're going to?
I was an M15 for year (before leaving last year. I can promise that you have to be employed when AIP is paid out in order to get it. You have to be an active employee as of 11:59pm on 12/31 in order to even show up in the AIP system. So employees that are part of the RIF won’t get any AIP. 100% guaranteed.
As far as prorated AIP, you have to be employed prior to 10/1 of the AIP year. Then, it’s not really a proration. AIP is paid out on wages earned for the calendar year. So, if you have a 10% AIP payout, and start on 7/1, you get 10% of 6 months.
This feels like someone wants to stir the pot. How would anyone know about Feb 2024 right now? Stop with the guessing.
The multiple people I've seen riffed in Q4 and received either 50% or nothing would dispute that. A good friend of mine was rolled up in a rif last year with her last day in December and they paid out only 50%. Two other friends of mine in the same rif got nothing.
That's not logic, that's a rumor & not cool.
I need facts when I'm freaking out, please:)
Read the supplemental income policy. I know for a fact that they will pay your AIP if you are employed on 9/30 and RIFD resulting in your last day being between 10/1-12/31. Full stop.
If you resign, then you are correct, you must be employed when the AIP is distributed.
I am reading the AIP document right now and it states that to be eligible associates must be actively employed as of the AIP payout date. My understanding of the prorated is that if you are hired prior to October 1 you get a prorated AIP.
This is not accurate. AIP is still paid on a prorated basis if you are here past 9/30, that includes the 30 day notification period.
So those who were RIFD yesterday, will have a last day of 10/20, so they are still eligible for a prorated portion of their AIP to be paid in March.