New Mgt Pension Rumor
- Thread starter dumbsup
- Start date
tieguy
Banned
Rumor has it that there is a townhall mtg in Corp from 3-5 on Friday announcing the pension buyout for all. Anyone hear this?
If so and someone could send me a private message with the CC number I would be very gratefull.
constructively dissatisfi
Well-Known Member
There was a "Town Hall" meeting scheduled for Friday. According to an email this morning it has been cancelled but will be rescheduled at a future date/time TBD.
Is there anybody out there that was a part of the SCS buyout that might be able to share some light on what the package was to leave. Was medical included, was there a formula used to calculate your payout? How many installments for the payout and how far apart before each payment. Sure would like someone to shed some light on this VSBO. Any information would be appreciated.
T
Tarnsman
Guest
I heard that only 350 people took/are taking the December 2006 offer....That offer must have been quite a low-ball offer....
B
Bucket of Boltz
Guest
The Corporate SVSO eligible individuals have until the end of January to elect to accept the offer. The amount of incorrect information posted and commented on never seases to amaze me.
S
speeddemon
Guest
How about a buyout for some of us drivers who actually could use it due to our backs being shot.
Bucket of Boltz,
Please shed some light on us. If you know that information is inaccurate, please feel free to correct us. I have often found that there is a lot of inaccurate information on this web site, however, there is usually someone who will step forward and set the record straight. Anything you know about the VSBO that was offered would be greatly appreciated.
Please shed some light on us. If you know that information is inaccurate, please feel free to correct us. I have often found that there is a lot of inaccurate information on this web site, however, there is usually someone who will step forward and set the record straight. Anything you know about the VSBO that was offered would be greatly appreciated.
Can imagine that those affected where kindly reminded not to reveal the pay out to the general public or fellow employees, so don't expect any correct information off this forum. If they are corporate and above the grade of district managers they will be well taken care of and to what benefit would it be to them to reveal anything. Guys you should know the mindset involved (me, myself and I ) are their main concerns devil with the rest. This is from an union hourly so if I am incorrect with my assessment any management employees can add their two cents in.
I
I.P. Daily
Guest
No changes announced. Town hall meeting postponed. Participation weak. Memo sent inferring reductions and transfers will occur if projected reductions are not met. 15 days to deadline for participation. More particiants will come forward soon.
Is this a dead issue? Haven't heard even a whisper since the SCS buyout was offered? With all the rumors that were running around out there, sure would have expected to see more changes. What about the pension, the retirement age, the downsizing ! Has this board and it's posters lost all it's sources or were the leaking parties reprimanded????
It sure is quiet!!!!!!!!!!!!!!!!
It sure is quiet!!!!!!!!!!!!!!!!
Dfigtree
Well-Known Member
From my point of view, I would advise you to plan for the buyout. Do you know what your COBRA benefits will be? For how long? Do you have a 3 to 6 month emergency fund to cover monthly expenses? Do you have a marketable skill? Do you have life or disability insurance (term, please) to protect your kids college after UPS coverage lapses? Plan for the woist. Hope for the best.
FP
FP
Dfigtree
Well-Known Member
Plan for the worst. Hope for the best. Do you know what your COBRA coverage will be? For how long? Do you have a 3 to 6 month cash emergency fund for monthly expenses to tide you over? Do you have life (term, please) and disability insurance for the days after UPS coverage stops, to protect for your kids college education, etc. Do you have a marketable skill? If you think these redneck rumors are just lies, they might just be lying through their tooth. Or, they might be telling the truth. Without a financial plan, bankruptcy comes as a complete surprise.
FP
FP
constructively dissatisfi
Well-Known Member
There is/was no "SCS buyout". Despite the PR spin to the contrary, the buyout was clearly aimed at high grade level Corporate dead wood. Of the 650 people eligible for it only 100 or so were from SCS. The offer doesn't sound too good. The only people who will take it are the fat cats who are hanging around for retirement medical. If they take the buyout their pension is reduced a lot, but they've got enough cash already that they don't care. Anyone who cares about losing most of their pension isn't going to take it. All the nonsense about duplication between SCS and Corp is pure PR spin.
