Maybe Iam not understanding, You couldn't have an Abbott pension/medical if you worked for HSP! The ONLY exception was is you were rehired by Abbott after 2 year no hire rule expired. OR You were the people usually with 20+ years senoriority that were given the option to TEMPORARLY stay at Hospira after spin for several months and guaranteed Abbott package THESE are the only people that actually worked for HSP but left with Abbott package.
HR eek:
U S A
GUY
Well- I'm really starting wonder if you are a retired HR guy or if you are just someone who came in after the spin and understands the mentality of HSP. So the following is how it came down in 2004 I had 24 yrs of service with Abbott and was over 50 I could have done the following.
1. Start taking my full retirement immediately after the spin - but I would have been out of a job and receive no separation payment (package) since I would be voluntarily retiring from Abbott and Hospira would have no job for me. Not to mention the 2yr no hire agreement.
2. Be terminated from Abbott and immediately rehired by HSP with my retirement benefits intact at the amount I had earned up to that point with my pension continuing to grow through the end of 2004, then the pension would be frozen. Since the last 10 yrs is when the pension matured the most I and many like me got royally screwed. I will be getting about 50% of what I would have if the spin wouldn't have taken place or Begely and White hadn't stolen it from us.
3. There were no employees given packages. There was nothing special about having 20+ yrs with Abbott. The cut off was 10yrs service and 50 yrs old, PERIOD. No one came over temporarily to HSP and then get a package. There have been a few people who went back to Abbott after the 2 yr freeze but they came back as new hires. There may have been one or two who made a special deal but this would have been way out of policy.
4. We were not allowed to collect our Abbott pensions while we were still employed by HSP. This had nothing to do with legality only Begley's/HSPs policy. Now that I am retired I can get my pension from the ABBOTT/HOSPIRA TRANISTIONAL PENSION PLAN the phone # is 866 345 4278
I also qualify for the ABBOTT retiree health plan which as I said in another post is very expensive for what you get. It really seems to be designed for those who are not old enough to get medicare.
So Mr. HR Guy you have given a lot of good advice in your posts, however in this matter I know you have no real knowledge base.