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Anyone Bridged to Retirement?

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anonymous

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CV reps/anyone who has just gone thru layoff, does Merck still "bridge" employees to retirement during layoff? Years ago when 50 year olds were dismissed, Merck bridged them to age 55 to give extra years counting toward pension. Anyone know if this is still done at Merck? Thx.
 




anonymous said:
CV reps/anyone who has just gone thru layoff, does Merck still "bridge" employees to retirement during layoff? Years ago when 50 year olds were dismissed, Merck bridged them to age 55 to give extra years counting toward pension. Anyone know if this is still done at Merck? Thx.
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The only bridge Merck offers is " bridge over troubled waters "... You better try and get that bridge before 2019!
 
















The bridging is still there, but it is the companies decision to use it, not the employee. It will probably disappear at the end of 2019. The company has let too many people go and now can't figure out how to get the work done with the remaining drones. No more mass dismissals anytime soon.

Best to just suck it up until 55 then leave on your own! Of course if you are not 55 by the end of 2019, you are screwed anyway.
 




No one will hire you at 55 for most jobs as you are considered old and not with it. Most people would be foolish at that age to let this gig go. Of course, there are exceptions.
 




anonymous said:
No one will hire you at 55 for most jobs as you are considered old and not with it. Most people would be foolish at that age to let this gig go. Of course, there are exceptions.
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You have delislinged for way too long and now need to be tossed to the curb and flushed down the toilet. I need a honey dipper for immediate employment send your resume to #pooper.
 












What do you think your getting at 55?

You are already vested in your 401k.
You are already vested in your pension.
If you have 10 years of service and 55 plus years of age you qualify for retiree health benefit however, Merck shafted that over to Obama Care so it's not really a benefit.

What's the benefit of a bridge?
 




anonymous said:
What do you think your getting at 55?

You are already vested in your 401k.
You are already vested in your pension.
If you have 10 years of service and 55 plus years of age you qualify for retiree health benefit however, Merck shafted that over to Obama Care so it's not really a benefit.

What's the benefit of a bridge?
Click to expand...


Need the "years service" credit to get up to 25 years.
 




anonymous said:
What do you think your getting at 55?

You are already vested in your 401k.
You are already vested in your pension.
If you have 10 years of service and 55 plus years of age you qualify for retiree health benefit however, Merck shafted that over to Obama Care so it's not really a benefit.

What's the benefit of a bridge?
Click to expand...

The bridge is only for employees who have atleast 10 years of service and are atleast 50, but not yet 55. If the company picks you for termination (you can't get bridged on your own), you get a partial bridge to 55 for pension only. You need to be 52 (but not yet 55) for medical subsidy bridge. Merck has now decided to dump retirees who are medicare age. They used to be the Medicare 20%. Not anymore as of this year.
 




anonymous said:
The bridge is only for employees who have atleast 10 years of service and are atleast 50, but not yet 55. If the company picks you for termination (you can't get bridged on your own), you get a partial bridge to 55 for pension only. You need to be 52 (but not yet 55) for medical subsidy bridge. Merck has now decided to dump retirees who are medicare age. They used to be the Medicare 20%. Not anymore as of this year.
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Good info, that's exactly what I'm hoping for. Thx.
 
















anonymous said:
I got 500k at 20 years service at 53 due to bridge. Without bridge, I would have got 300k.
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Congrats! Younger rep here with 20 years in at age 43, around 500k in lump. Although I doubt I will ever see a bridge please elaborate. My understanding is that if I left now I couldn't touch my 500k lump until age 62. If I took it earlier I would lose 3% per year which I would never do. Forgetting about med or dental, are you saying the bridge you got allowed you to take your 500k lump early at age 53 without penalty? If so that is great! Like me I bet you have a pretty penny in your 401k too.
 












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