Thread regarding Bank of America layoffs

How does early retirement work?

I am eligible for retirement with the Age plus years of service rule, but they stopped funding the pension years before mine accrued much, so I'm not sure what early retirement even gets you anymore. Does it just mean I can walk away with my paltry pension in a lump sum? Or is there more to it? If all it means is that I get my pension, then I'm better off taking a layoff package should that come my way. It will still be awhile before I'm 65.

Thank-you for any and all info.

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| 1822 views | | 4 replies (last April 14, 2016) | Reply
Post ID: @OP+GGiX6DP

4 replies (most recent on top)

I just got my package for age plus service hold

On to your hat! My pension is 78 cents a month. That will not even get me a cup of coffee at Mac d's. BOA takes care of their own NOT!!!!! Maybe their own pockets

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Post ID: @enbt+GGiX6DP

The only thing I was told that I get is I can keep my health insurance as long as I pay for it. The cost is $1052/month. I don't know how they could possibly think I could pay without working.

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Post ID: @2fmc+GGiX6DP

I believe the Rule of 60 is the only thing that will apply, which is getting bank of america rates for health insurance.. I'd check the internal pages

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Post ID: @1udg+GGiX6DP

I was not able to get a clear answer after speaking with the Retirement Specialist who basically could not tell me anything more that what my full monthly benefit would be at full retirement age which I already knew since it is readily available on the Fidelity site. If you are able to find someone who actually knows what they're talking about, please share.

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Post ID: @hcx+GGiX6DP

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