Breadwinner VERA - Ugh

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

[Anonymous]

[twitter]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

MRA+10 won’t get pension but I thought they did get severance payment?

[Anonymous]

If positions end up being Schedule F, then no severance.

[Anonymous]

Anonymous wrote:[twitter]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

MRA+10 won’t get pension but I thought they did get severance payment?

a RIF for someone who is MRA+10 means they are eligible to start their pension but there is a 5% per year penalty permanent reduction of the pension for every year you are under 62.

You don't get severance. the best option for MRA+10 may be to postpone starting the pension until JUST BEFORE they turn 62, so that they can restart FEHB. everyones situation is different.

[Anonymous]

there is no difference between dsr and vera?

[Anonymous]

Anonymous wrote:If positions end up being Schedule F, then no severance.

Can you get DSR?

[Anonymous]

Anonymous wrote:

Anonymous wrote:[twitter]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

MRA+10 won’t get pension but I thought they did get severance payment?

a RIF for someone who is MRA+10 means they are eligible to start their pension but there is a 5% per year penalty permanent reduction of the pension for every year you are under 62.

You don't get severance. the best option for MRA+10 may be to postpone starting the pension until JUST BEFORE they turn 62, so that they can restart FEHB. everyones situation is different.

I’m 50 and MRA+10. I thought all I could get was a payout severance of like 15 * weeks pay. If I take an early returns with the penalty, can I get FEHB?

How do you get FEHB with a postponed retirement at 62??

[Anonymous]

Anonymous wrote:If you’re riffed, you get the same benefits as a Vera anyway. Why worry about taking it now?

"Discontinued service retirement" , OP see if you can get this if riffed!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Eligibility for Vera is the same as discontinued service retirement. Are you eligible for a Vera? You need 20 years if you’re over 50.

Yes 20 years and 50. Is FEHB available too?

Yes, plus no reduction in pension

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

This is all right but also if you are riffed and look for a new job you get unemployment. Don’t see any downside to waiting to see what happens (altho I guess worst case they do something to DSR)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:[twitter]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

MRA+10 won’t get pension but I thought they did get severance payment?

a RIF for someone who is MRA+10 means they are eligible to start their pension but there is a 5% per year penalty permanent reduction of the pension for every year you are under 62.

You don't get severance. the best option for MRA+10 may be to postpone starting the pension until JUST BEFORE they turn 62, so that they can restart FEHB. everyones situation is different.

I’m 50 and MRA+10. I thought all I could get was a payout severance of like 15 * weeks pay. If I take an early returns with the penalty, can I get FEHB?

How do you get FEHB with a postponed retirement at 62??

I think you'd need to be older than 50 to be MRA+10.

[Anonymous]

I would not count on DSR - you don’t know if they are going to RIF according to regs.

[Anonymous]

Anonymous wrote:I would not count on DSR - you don’t know if they are going to RIF according to regs.

There is a limit to the things I can worry about. They could bankrupt the pension. End FEHB and have everyone go on exchange. The bad outcomes that “possible” are endless.

[Anonymous]

Anonymous wrote:Eligibility for Vera is the same as discontinued service retirement. Are you eligible for a Vera? You need 20 years if you’re over 50.

What a jerk. OP literally said they are eligible for VERA and here you are mansplaining like a b__ch.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:[twitter]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am surprised about how many people in their 50’s took VERA with plans to find another job. I say wait and see what happens. I would not take VERA heading into a recession.

I’m not expecting to find another job. We would just spend down 401k. We have about $2M. It would be a much more asture life and kids would likely go to state colleges, but it’s better outcome than having no health insurance and no jobs — we have chronic illness with expensive meds.

if you qualify for VERA now then you qualify for DSR. If the current VERA offer doesn't include VSIP then there is no functional difference between a RIF DSR and VERA--except one is chosen for you and the other you elect.

If you *know* you're going to get RIFed then a FORK VERA is likely better than any VSIP payment.

caveats for other folks: if you don't qualify for VERA yet, but will before sept 30, then you'd likely want to FORK VERA.

if you are in the unfortunate place of being MRA+10 but not eligible for VERA, you will not get any severance in a RIF. FORK or rolling the dice to duck a RIF may be for you. Unfortunately, most RIFs are not being run in a way that would benefit seniority or performance or skill. I have only heard of IRS actually asking for RIF resumes.

MRA+10 won’t get pension but I thought they did get severance payment?

a RIF for someone who is MRA+10 means they are eligible to start their pension but there is a 5% per year penalty permanent reduction of the pension for every year you are under 62.

You don't get severance. the best option for MRA+10 may be to postpone starting the pension until JUST BEFORE they turn 62, so that they can restart FEHB. everyones situation is different.

I’m 50 and MRA+10. I thought all I could get was a payout severance of like 15 * weeks pay. If I take an early returns with the penalty, can I get FEHB?

How do you get FEHB with a postponed retirement at 62??

I think you'd need to be older than 50 to be MRA+10.

Yes, this is very confusing!! 50 is definitely not MRA. That would be age 56-57. (Age 50 with 20 years of service counts for a VERA, but it's not your MRA.)