I wonder if there'll be any difference package-wise between the "Enhanced retirement" vs. VSP if someone should be eligible for both. If differences, I wonder if they'll give us the better of the 2 or offer the worst.
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If he's eligible to retire under the several Rules, he most probably will get an offer on Monday to take the enhanced retirement. I'm unsure if there are any exclusions to anyone already eligible or not. VSP most definitely will not be offered to 100% of Intel employees. I know that without even knowing anything.
Do you know if a VSP is going to be offered to all employees or if Intel will only offer a VSP for employees that Intel has chosen? My husband is close to retiring and would love to take an early retirement but said that Intel is going to inform those eligible for early retirement on Monday, April 25. Thanks for any information that you can provide for eligibility of a early retirement as part of the 2016 layoff.
The early retirement pilot program in 2013 included 18 mo Intel paid Cobra (health/dental insurance) plus a hefty sum added to the SERMA account (added enough to the employee's accrued SERMA to equal $59K) to be used to pay for health insurance premiums in retirement. And if the employee was already including their spouse in their health plan, Intel added another $59K to the SERMA account. It was a real deal for me who was turning 65 (medicare eligible) and earning my sabbatical that year.
yeah, my friend took that one. It wasn't until Medicare eligible though... it was for 7 yrs or to age 65, whichever comes first. At least that's what I was told.
I was hoping for that this go round but hearing through the rumor mill that it's less (2 yrs). But you never know if you can believe rumors or not. I guess I'll wait (semi)patiently for the 29th to find out. :)
Thanks for your response.
Enhanced retirement 3 years ago when many old timers left included health insurance until Medicare eligible. That's not part of VSP.