Get rid of the overlays already!

Quote
Anonymous said:
"take the package when it is offered and hope for bridging of medical care until you reach retirement age."..........What does this mean?????
Click to expand...

They provide your medical benefits as if you are still employed until your 55th birthday, when you would have otherwise retired. They only "bridge" when you're close to normal retirement age, say, 54.
 






Anonymous said:
They provide your medical benefits as if you are still employed until your 55th birthday, when you would have otherwise retired. They only "bridge" when you're close to normal retirement age, say, 54.
Click to expand...

BTW, a bridge is nothing more then Mother trying to avoid an age discrimination lawsuit from a 54-year-old. A 54-year-old is likely to win. Again, Mother isn't being generous with bridging; she's just trying to protect her own ass.
 


















Anonymous said:
Bridged to get what...at what price....and what start date?
Click to expand...

"Bridged" means that if you are, say, 50-54, and are laid off, they will consider you to be age 55, and you can start collecting pension checks immediately, as well as be eligible for retiree health benefits. That is what "bridged" meant under the SP severance package during the merger cuts.
 






Anonymous said:
"Bridged" means that if you are, say, 50-54, and are laid off, they will consider you to be age 55, and you can start collecting pension checks immediately, as well as be eligible for retiree health benefits. That is what "bridged" meant under the SP severance package during the merger cuts.
Click to expand...

Does this mean no matter how many years in? In my but I have years before the pension dates says its available to me. Would this be changed with a layoff? It hope so because I will probably have a horrible time getting work and no SS is available for many years either.....
 






Anonymous said:
Does this mean no matter how many years in? In my but I have years before the pension dates says its available to me. Would this be changed with a layoff? It hope so because I will probably have a horrible time getting work and no SS is available for many years either.....
Click to expand...

At SP, if you had 5 years with the company you were "vested" and eligible for a pension at age 62 (or age 55, if you stayed that long and chose "early retirement"). Not sure, however, if you were over 50 with only 5 years if that was sufficient to be "bridged" under the SP severance package. SP is history anyway (i.e, the SP severance package expires 12/31/11, and cuts will likely be effective as of 2012). The question is what Merck will provide for the over 50 employee if he/she is let go.
 






Anonymous said:
Does this mean no matter how many years in? In my but I have years before the pension dates says its available to me. Would this be changed with a layoff? It hope so because I will probably have a horrible time getting work and no SS is available for many years either.....
Click to expand...

I hope you can find a job quickly. Don't limit yourself to pharma. It is pretty dead for that industry but there are many other industries and sectors picking up in this economy.
 






Anonymous said:
I hope you can find a job quickly. Don't limit yourself to pharma. It is pretty dead for that industry but there are many other industries and sectors picking up in this economy.
Click to expand...

Any suggestions for the older reps and how and where to apply the skills we have.....cant drop too low in the income....still have too many financial obligations....
 






Top Bottom
Back
Quote