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Old 06-09-2015, 09:53 AM   #41
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How does a VP get a downsized position? I can only imagine a consulting contract, and the possibility for success there depends on political factors. Do you feel lucky?

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Old 06-09-2015, 12:37 PM   #42
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I think it is possible for a VP to downshift. The OP would be requesting a lesser role with lower hours and lower pay. It is in Mega's best interest to try to find something htey can both live with to keep the OP's experience for a while longer than having him walk out the door with only the required notice of what, perhaps a couple weeks?

A number of years before I retired I decided I was tired of the administration associated with my management role and proposed a SME (subject matter expert) role with 80% full-time and we worked something out within the firm's existing reduced hours program. We later reduced that to 50% since I wanted to reduce my traveling. They later requested that I increase it back to 80% for a special project for a valued client with whom I had previously worked with and they wanted me involved. After the project I dropped back to 50% for about a year before I retired. This was in a firm with 49k employees in the US and 195k worldwide.
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Old 06-09-2015, 06:11 PM   #43
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My guess is there is always a way around things without incurring the liability of a law suit. Keeping in mine one can get sued for anything.

A friend of mine worked for a Mega - Mega corp, right at 10,000 employees, and offices through out the world. They eliminated his position about a year before he qualified for full retirement benefits. Rather than a severance package, they said he would remain on payroll for that year, keep his office and his secretary, but he had no job, and did not have to show up. A year later he retired with full benefits. My guess is Mega corp would have justified it as employment in lieu of separation package.

Two years might be a little too much to ask for. However, they may be willing to demote you to a tech position, or something like 'Senior Consultant to Technology' at a greatly reduced pay and responsibilities.
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Old 06-10-2015, 12:31 AM   #44
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Originally Posted by Rustic23 View Post
My guess is there is always a way around things without incurring the liability of a law suit. Keeping in mine one can get sued for anything.

A friend of mine worked for a Mega - Mega corp, right at 10,000 employees, and offices through out the world. They eliminated his position about a year before he qualified for full retirement benefits. Rather than a severance package, they said he would remain on payroll for that year, keep his office and his secretary, but he had no job, and did not have to show up. A year later he retired with full benefits. My guess is Mega corp would have justified it as employment in lieu of separation package.

Two years might be a little too much to ask for. However, they may be willing to demote you to a tech position, or something like 'Senior Consultant to Technology' at a greatly reduced pay and responsibilities.

This was mentioned as an option.... and one that is hard to sue since it is not related to employee benefits....

What most comments have said, there is little wiggle room to just add them to the insurance where he pays full price.... or any of the other ways out there....

But if a company is willing to pay full boat benefits for someone not showing up... that is their decision....
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Old 06-10-2015, 06:41 AM   #45
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My Megacorp requirement for retiree medical was:

Must be 55 yo.
Years of service + age must equal 75.
It was half price insurance through age 64, then they pay for a Medigap policy 65+.


Only one time did they add some years to a few people when they offered them a package. The rule otherwise has never been changed. I would think the chances of changing the age 55 rule for one person is remote to none.

Is it worth it to kill two years to get retiree medical? Personally, I would rather leave and get a policy on my own.
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Old 06-10-2015, 07:57 AM   #46
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My ACA insurance costs about 75% of what COBRA would have cost with no appreciable difference in service. In fact I pay less for office visits and medications than before. And as self-employed (I work about 3 days/mo filling in holes in the schedule until the group is fully staffed) my premiums are 100% tax deductible. I control the plan I choose, not the company.

Given the upcoming tax on the Cadillac plans, your access to such a plan may disappear at the end of this year anyway.

Ask yourself this: is it worth >4000 hours of your life to maybe have access to a health plan with a few more perks that may not exist in a couple of years, vs paying for your own HI that you can afford anyway?

I know what my answer would be.

You can't create more time. You may already have too much money. If you can afford the HI, then buy yourself the time by buying your own HI and retire.

See the big picture. Retirement is the forest. Health insurance is a mighty big tree in the forest but it isn't the entire jungle. That's my take on your situation.


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