We had the meeting today. It was interesting, but I have no clearer picture of who is going to do what. There were some surprises, a few people asked questions I didn't expect from them. I get the feeling that the retirement packages may have been slightly better than some people expected. If they're good enough, I don't know.
I got some answers on my questions. Going to work in a graphic design studio would be considered "in the business" for the union. If the shop is not union I could continue in the union as an associate member with lower dues, but still be able to participate in the retirement plans. These would be paid by myself. The retirement plan is one of the best I've been a part of (as long as the payouts remain similar), so I'd really like to continue in it. From the time of layoff I have two years to either take a lump sum payout (no interest, just what I've paid in), continue in the plan, or receive a certificate of completion. There are then various rules that come into effect especially if I "retire" early. I can restart the plan and then there are more rules. I'm one year away from being vested in the second, national, retirement plan. But even now, with four years of contributions in, if I could retire I would qualify for a little more than $265.
Maybe this week things will shake out. The company wants to have answers on volunteers by the end of the week.
5 comments:
Good luck, whatever happens.
- Elizabeth (formerly pollyc)
I hope everything works out well for you.
Thanks Elizabeth and Vince. I sure hope it does workout.
Today's roller-coaster brought a possibility of a postponement of the layoff date until later in April. And a supposed management meeting this past weekend. Also, rumor is that the layoffs are being directed by our bank. Weee. It just keeps getting more fun.
Hang in there through the roller-coaster ride.
Seems odd that they would call a meeting when it sounds like so much is still up in the air.
Doesn't make it any easier for you in the meantime, as you're not sure what till happen.
I will keep thinking good thoughts for your situation.
Sheila, well people who may volunteer need to make that known by this Friday. So the union meeting was were people got their numbers for our retirement plans. I think there was some expectation that older employees might opt for early retirement. Unfortunately for me (and some others), the cost of healthcare is keeping people from making that leap.
As for management having a meeting, I think they're starting to see some of the things I thought through when the possibility of layoffs reared up. And they're seeing that there will be problems. There is a move to "Lean Manufacturing" and I don't think they appreciated that for the most part they were already there (of course, "Lean Manufacturing" is the new business religion, just as "Re-engineering", JIT, and "Teams" were back in the 90s, and just as poorly understood). Also, some metrics are back up, and they might be arguing that case to the bank.
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