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Legacy -vs- Terms and Conditions

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That's because it is. Maybe if you are a mgr. or director and are young enough to make AZ a long career (good luck with that), then maybe the stock option thing may make sense. DSM's I think get 13% of their salary. The higher the rank, the higher the percentage. Remember, three years to vest.
Why would you walk away from an additional 6-8% 401K match that is vested right away?
The company knows this. Eventually, they will force everyone onto the new plan, just like they did with the old defined pensions. Could be a couple of years, could be 10. Don't know the time just that it will happen.
 






401K match at 6% remains for everyone. The 6-8% is additional retirement contribution that is only available to legacy employees. Therefore, as a legacy employee you will get the retirement contribution and possibly LTI, as 30% of legacy employees will qualify. This is how I understand the change.
 






anonymous said:
401K match at 6% remains for everyone. The 6-8% is additional retirement contribution that is only available to legacy employees. Therefore, as a legacy employee you will get the retirement contribution and possibly LTI, as 30% of legacy employees will qualify. This is how I understand the change.
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Correct.

But it can always change, and likely will. Just ask those who missed out on getting their retirement medical benefit after 2020. Plenty of people turned down better paying jobs over the years to get to age 55 with 20 years of service. Then out of the blue they take that benefit away. Imagine getting your 20 years a month after they stop the benefit. All those opportunities that were turned down. For NOTHING.

So don’t stress about it. The second they decide one way is in their favor then that’s what you’ll get.
 






anonymous said:
That's because it is. Maybe if you are a mgr. or director and are young enough to make AZ a long career (good luck with that), then maybe the stock option thing may make sense. DSM's I think get 13% of their salary. The higher the rank, the higher the percentage. Remember, three years to vest.
Why would you walk away from an additional 6-8% 401K match that is vested right away?
The company knows this. Eventually, they will force everyone onto the new plan, just like they did with the old defined pensions. Could be a couple of years, could be 10. Don't know the time just that it will happen.
Click to expand...
I did. Couldn’t be happier as a specialty rep making 40K more than I did at AZ, and actually being able to hit bonus!

Your company sucks. Go charge your EV and shut the fuck up. You’ll never see your stock anyway because RFK is about to dismantle this company.

Good Riddance.
 






anonymous said:
I did. Couldn’t be happier as a specialty rep making 40K more than I did at AZ, and actually being able to hit bonus!

Your company sucks. Go charge your EV and shut the fuck up. You’ll never see your stock anyway because RFK is about to dismantle this company.

Good Riddance.
Click to expand...
What company did you go to? Therapeutic area? Looking to make a change too.
 






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