Verp?

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A logical time for many people to retire (if eligible) or leave the company is at yearend. So if the rumors are true, once announced, it can easily take a few months to communicate, then determine which positions will be eliminated or which "volunteers" will be selected based on objective / non-discriminatory criteria. Once given a "reallocation" packet, employees have six weeks or so decide whether to accept, then sign the release agreement. If all goes well, the employees are off the books (and expense ledgers) before yearend and a lower cost baseline begins Jan 1. Another wildcard is whether changes to retirement are announced. Coupled with a VERP program, employees may be tempted to exit, locking in the prior retirement program benefits.
 






VERP, I don’t think so. That would mean Ricks made a mistake the first time, and that would never be allowed. They will tie something to pension, retire and round up to 80 points or something like that. Ricks doesn’t make mistakes.
 












anonymous said:
VERP, I don’t think so. That would mean Ricks made a mistake the first time, and that would never be allowed. They will tie something to pension, retire and round up to 80 points or something like that. Ricks doesn’t make mistakes.
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You’re right, a VERP will not be announced. What will be announced is either a decrease or elimination of the pension. More money will be matched in a 401K. This is what you asked for in the survey a few months back.
 












anonymous said:
You’re right, a VERP will not be announced. What will be announced is either a decrease or elimination of the pension. More money will be matched in a 401K. This is what you asked for in the survey a few months back.
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This was the highest rated choice (9%) that you chose (of the options that we really had on the table)!
 


















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