What is everyone seeing for the maximum length of sub pay? Is it still max 52 weeks (2weeks for each year worked)?
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This is not severance. Supplemental income meaning once you find another job it will stop. Best in mind they are now looking to eliminate it totally and not just reduce to one week.
52 weeks was in either the General Release or the 'Letter of Agreement' (the two documents you must sign, Release must be notarized, and mail to Pittsburgh to receive the SUB benefits).
Unfortunately the documents can't be searched for strings (a search for 'e' yields 'no results') or I would post the exact wording. But I had a contract attorney review and when we sat together I distinctly recall reading something like '2 weeks per year of service to a maximum of 52 weeks'. I commented to my attorney that a year was more than I expected (of course if you are 58 and been there 35 years, you're singing a different tune). If you would like me to re-read, I will... but I'm... attorney reviewed, signed, notarized and I'd like to say 'moving on', but obviously I'm still checking this board.
Perhaps in the morning I will find the exact wording as I am somehow compelled to help others who are, or may be, in the boat I am in now.
I think 12 was min, judging from the handful of people I know who were let go with less than 6 years of service. (May 2017 was the most recent start date, he/she got 12 weeks).
Good luck. Get your job search teed up... LinkedIn... resume whatever that may be... be ready if it comes... I totally regret having a 20 year old resume and not working LinkedIn (I sent out 4 invitations in 10 years - to hot chicks).
Let me know if you would like me to re-read and post the wording, I will check this board tomorrow.
36 weeks. Level based. Yes the plan is to reduce shortly to one week for each year’s service
What level starts the receiving if more than 2 weeks per year of service?
2 x every year of service OR weeks of base pay based on your grade level, whichever is greater. Due to my grade, I received more generous than 2x every year. Also check vacation time as mine wasn't paid out correctly.
Same deal for me (14 weeks total) ... however I was hearing (and also mentioned by some other posts) that cutting back the severance plan was in the works. As such, my former boss is 'hoping' he'll be able to cash out in the next round of layoffs before they do that.
12 weeks is what I received in addition to being paid the remaining 2 weeks of January. It is generous for me, who only worked for the Bank for one year, but if it is standard severance for everyone, then it is not so generous for someone with more than 6 years of employment.