Conference 7.286::digital

	There was a voluntary package in the UK for those over 50, I believe
	the cut-off date for volunteering was 1st July, but I could be wrong.

	I know 2 people who volunteered, they did not give me the details, but
	said it was a good package. They left very happy.

	As we only had about 150 people over 50, it was not available to a high 
	percentage of the UK staff.

	
	Heather

Re:                          <<< Note 1574.0 by ? >>>

I wish people wouldn't delete basenotes as soon as there's a reply.  For those 
of us who get into a conference less frequently, it means we see meaningless 
replies (no disrepect to the author of .1 :-) without any of the original 
context.

-  David

> it means we see meaningless replies (no disrepect to the author of .1 :-) 


	:-)


	Heather

    I am eagerly waiting for a "fair" early retirement package.
    
    Current Digital's early retirement is very expensive for me and I
    cannot afford it.  Let me explain.  I have been with Digital for over 14
    years and I will be 65 in Nov 1992.  I asked the personnel to calculate
    the retirement payment amounts with 2 different dates. Here are
    the discount % $ for the dates:
    
    Not coming to work date   Date receiving the $ payment    % of discount
    =======================   ============================    =============
    
      Jan 17, 1992                Feb 1, 1992                  81 %
                                  Dec 1, 1992                  90 %
    
      Nov 12, 1992                Dec 1, 1992                 100 %
                 
    
    The reason why I ask for a Jan 17, 92 date instead of a Nov 12, 91 is
    because I need to enroll my husband as a dependent for my health
    insurance.  I made the mistake of NOT enroll him last year, now I must
    wait for the December 1991 open season to enroll him.  There is 
    only one enrollment per year, so this is an expensive mistake for me.
    
    As anyone can see that the discount is very huge especially if one does
    not know how long I am going to live!  Also this is the first time that
    my social security benefit is MORE than the retirement payment based
    on personnel's estimate notice!!!
    
    So if there is any "fair" early retirement package, I am definitely 
    interested.  And I know many DEC employees that will take the benefit
    if a "fair" package is given.  I have discussed the matters with
    friends and accountants, they all said that it is better for DEC to
    offer such a package instead of the transition package to "older"
    people.  Because the expense incurred from the retirement package
    does NOT come from the operation expense.  The transition package does
    come from the operation expense.
    
    All I know is by offering a fair and reasonable early retirement
    package will be beneficial to both DEC, my group and myself.  Reasons:
    
    Benefit to DEC         reduced salary level  a younger engineer.
    Benefit to my group    Maintain headcount    same productivity
    Benefit to myself      enjoy my golden year  a "fair" monthly paycheck
    
    Can someone explain to me why it is not being offered at DEC considering
    every large company does it.
    

    
    Huh... What's this about fair. You want to put your husband on the
    Digital Medical Plan, and then retire immediately, so that you can get
    Retiree Medical Benefits for him (and you).
    
    And you want to leave in January, but have digital pay you from the
    month following as though you were working another year or so, even
    though all of their financial calculations were based on you working
    through DEC 1992.
    
    Sounds more like a lack of planning than a need for fairness...
    
    q
    
    
    

    Don't get too excited about the husband.  The lady's health care
    will be covered by Digital....she will have to pay the full amount
    Digital pays to cover her husband....it's just that the DEC group
    rate isn't all that bad.
    
    ....yet, I wonder.  If she's gonna be 65, I don't think she will get
    her DEC health insurance anyway.  I believe that when you are ready
    for Medicare at 65, your DEC insurance goes away.  Maybe she doesn't
    know this.

    I checked the benefits guide. THere is health care upon retirement. I'm
    not sure about medicare switchovers though...
    
    q
    

    I know...the employee's health care continues to be paid by DEC.
    The full cost to Digital of the dependent's health care (that's
    quite a but more than what you pay when you are employed) must be
    paid by the retiree.
    
    .....but I still think that at 65 there is a switchover to medicare.
    
    Anyone know for sure??

    
    The health insurance for Social Security is called Medicaid,
    Medicare is for Welfare. Like all health insurance not everything
    is covered so it always good to have a second health plan if
    possible. It is not a "switchover" but it is included when you
    start to receive Social Security, you have to apply several months 
    before the Social Security benefits kick-in (I also have a friend
    in a Social Security Office).
    
    My parents have been "retired" for many years (they are in their
    80s) Medicaid helps but it is good to have a second insurance policy
    to help out if possible. You can put claims that are not covered 
    by Medicaid thru the second insurance or visa versa you have to 
    read the insurance policy(s).
    
    Joan
    
    

>                     <<< Note 1574.9 by CSC32::J_KEHRER >>>
>                         -< Medicaid not Medicare.... >-
>    
>    The health insurance for Social Security is called Medicaid,
>    Medicare is for Welfare. 

No, you have it backwards.  
Medicare is from Social Security, Medicaid is welfare.

See the August 20, 1991 DTW that outlines how Social Security and Medicare
will now be reported as separate taxes on your payroll stub.

    According to "Your benefits book",
    If retired and over 65 Digital benefits supplement Medicare, Medicare
    is your primary coverage. Sign up for Medicare 3 months prior to 65'th
    birthday. See page 3.97 for details.