Thread regarding Verizon Communications Inc. layoffs

Verizon Retirement Plan

Sorry, a noob here - I joined in March 2015 - I see that people are talking about Verizon Retirement Plan - what does that mean? Who is eligible and what do you get with the plan?

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This is all super confusing

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It more age+years of service >= 75, with 15 year min. For RIFs, there is the concept of aging in with age+years of service >= 73

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to — Anonymous197350 .."Yes" on your question of..Do you mean any mgmt employee with service plus age is 58 years is called a retiree instead of non-retiree?

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If union and hired before 2012 you get around $500K after 30 years (or a reduced amount if over the age of 50 with 25 years service), plus healthcare for life (under current contract) for about $700/year for a family.

Since hired in 2015 you only get the 100% match up to 8% on the 401K (vs our reduced 82% match of 6% that the people with pensions get).

Management was stripped of their retirement about 10 years ago, they get nada if they didn't have 15 years service at that time and it was frozen if they did.

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287 Do you mean any mgmt employee with service plus age is 58 years is called a retiree instead of non-retiree?

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You not Period.

If you were Union, and hired before the last strike (about 4 years ago) you are eligible.

If you are non union (so called management) you are not eligible.

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Sorry, but you don't seem to meet the requirements. IF I remember correctly, your age and length of service need to total 58 yrs to qualify as a retiree. BUT, check with the benefits department.

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