Wednesday, January 04, 2006

What has changed?

From Anonymous:

Here is a link to a presentation that was given to us back in June of
2005. It clearly showed what your options were once the new
contractor took over. The question is, has there been a presentation
distributed since that date which defines the options more clearly.
It seems to me that the people who are leaving would clearly want to
know this no later then March 1st, 2006 so that you can get your
first retirement check on July 1st, 2006. Is there anyone on this
blog that is 50 years old who would be retiring in June just before
the new contractor takes over? HR is going to need that 90 days
notice. I'd say it is time to the focus the goal of this of blog into
getting information about ones future retirement, not issues that
will not concern you from that date on. It's time to move on.

No "REAL" news other than rumors and management stirring things up. In our group we were all asked who is planning on transitioning and who will be retiring. Also management is telling those over 50 that if we leave our vested UCRP where it is and transition we need to reapply for our jobs but the real kicker is that LANS can renegotiate your salary which usually means down as the thought is salary+bonus like industry does it. So the message seems to be that if you transfer your UCRP funds to the new deal plan your salary and position is status quo. If you choose inactive vested under UCRP and transfer your salary is up in the air. Sounds like blackmail to me if that indeed is what the choices are going to be.
That certainly seems at odds with what has been written previously about the plan for employees choosing "inactive vested" status.

If management is making statements like you claim about about singling out employees over age 50, then they're even less bright than previously thought.

Certainly would like to know who those managers are.
There is a phrase for singling out emplyees over the age of 50. It is called "age discrimination."
It has nothing to do with singling out individuals that are 50 +. They are the only ones that can retire on the UC system. Everyone else is ineligible...

Now you can freeze your retirement and loose your medical benefits, but I was told today that if you do retire you may or may not get your job back. There are no guarantees.

Now if you want to stay with the new corporation you can roll your UC retirement into their employer non contributory 401k and call it good.

The choice is yours. In March LANL employees will get another .ptt presentation that define all avenues.
There are three standard options that will be presented:
Transfer (cross fingers, trust DOE promises).
Inactive Vested transfer (bird-in-the-hand).
Retire/Rehire. (why??)

Instead of Retire/Rehire, don't forget that there is an 'unspoken' fourth option which might be called Inactive Vested/Retire quickly. One can transfer to LANS, while secretly planning to retire from UC within the 90 days allowed by UC rules.

-guarantees job
-saves sick leave
-vested instantly
-UC peace of mind

Good luck.
Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?