Thinking of Retiring? Read This

Buzz · June 08, 2020, 10:43:38 PM

Ernie asked me to point out that our contract stipulates that if you retire during a lay-off or furlough you must retire within 60 days to have the option of having retiree medical benefits.

This means, if you're going to retire and intend to have that benefit, you must do so before the end of the month. If you ride out the unemployment and do it later on, you will not have that option.

OMG · June 08, 2020, 10:55:01 PM

What ? Makes no sense at all ! 🤨

hognol · June 09, 2020, 12:48:52 AM

Does this mean if we go back in September and I decide to retire in October, I will not have retiree medical benefits?

topgun · June 09, 2020, 12:55:07 AM

If you go back to work in September you should be able to retired in October with benefits

Buzz · June 09, 2020, 01:45:06 AM

Quote from: hognol on June 09, 2020, 12:48:52 AM
Does this mean if we go back in September and I decide to retire in October, I will not have retiree medical benefits?

No, it means if you retire while furloughed. You have 60 days from May 1.

Buzz · June 09, 2020, 01:47:14 AM

Quote from: topgun on June 09, 2020, 12:55:07 AM
If you go back to work in September you should be able to retired in October with benefits

If you go back to work you're no longer furloughed, correct? So this would not apply. If you retire between July 1 and whenever we go back to work, you would not have the medical option.

OMG · June 09, 2020, 02:10:28 AM

Yeah, but what are we? Technically, by definition if you're furloughed. You're laid off with some employee benefits like medical, and you're asked not to seek other employment. So, I don't think we're furloughed. I haven't received a letter that I was laid off or fired. So I don't know what we are by definition. What was the last time any of us heard from our employer?

PROUD MEMBER · June 09, 2020, 11:52:04 AM

We are furloughed. And not all furloughed workers continue to have medical benefits. It's up to the individual company whether or not to carry the benefits.

Buzz · June 09, 2020, 12:11:29 PM

Sorry for the confusion. My original post has been changed to "lay-off or furlough."

Just realized that it initially said, "lay-off or referral." But I don't know why.

Buzz · June 09, 2020, 12:17:01 PM

Quote from: OMG on June 09, 2020, 02:10:28 AM
Yeah, but what are we? Technically, by definition if you're furloughed. You're laid off with some employee benefits like medical, and you're asked not to seek other employment. So, I don't think we're furloughed. I haven't received a letter that I was laid off or fired. So I don't know what we are by definition. What was the last time any of us heard from our employer?

I've researched this as much as I can and can find no legal distinction between lay-off and furlough. True that furlough implies that benefits remain intact, but it is not a prerequisite to using that term. By definition, they are the same thing.