When to take the HP early retirement plan?

Workers who opt for EER can also stay on the company health plan for up to two years. Employees have until June 22 to decide whether to take the early retirement package. Contact reporter Bennett Hall at [email protected] or 541-758-9529.

What kind of pay do I get when I retire at HP?

Before forced layoffs begin, workers whose age and years of service add up to 65 or more are being offered what the company calls enhanced early retirement, or EER. Qualifying employees can get two months’ base pay, plus a half-month’s salary for each year they’ve been with the company.

Is the HP retirement offer considered voluntary separation?

In a similar round of work force reductions in 2005, the mid-valley legislator noted, some HP workers were denied unemployment insurance payments and federal retraining opportunities because they took advantage of a generous early retirement offer. “It’s considered a voluntary separation,” Gelser said.

What’s the cap on EER payments at HP?

The total payment, which goes into the employee’s retirement account, is capped at 14 months’ salary. Workers who opt for EER can also stay on the company health plan for up to two years.

Where can I find Hewlett Packard limited retirement benefits plan?

This website is provided by the Trustee and has been designed to provide this information to you in a simple, accessible format. To start choose the appropriate area of the website from the options below. You can return to this page at any time via the ‘Hewlett-Packard Limited Retirement Benefits Plan’ logo at the top of the page.

What are the benefits of an early retirement package?

But, in general, the benefits of early retirement packages may include any combination of severance, continued health insurance coverage, pension upgrades, and other services and benefits.