Vote for the worst scenario as an IT employee

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Anonymous said:
Plan to stay at J&J until age 55 and get cut shortly before your 55th birthday.
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Is there really a big gain for JNJ if they let someone go at 54 instead of 55? My understanding is that at 55 you can get the health insurance at the employee cost but at 54 you still can get a better insurance deal than on the street.

Can anyone enlighten me?

tx
 




If you're vested for pension it's a huge difference! Less pension dollars for life, always considered fired and not retired. If you have stock options, you have to exercise them quickly - if you retire at 55 you can let them ride out.
 




Anonymous said:
If you're vested for pension it's a huge difference! Less pension dollars for life, always considered fired and not retired. If you have stock options, you have to exercise them quickly - if you retire at 55 you can let them ride out.
Click to expand...

Really, I thought that the pension was calculated by the last 5 years of pay. Even though this year had a very modest salary increase, the bonus was so restricted that the total pay actually was less than last year. If that trend continues, then what is the big bang of 55?
 




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