Early Out with 15 Years of Company Time and 45 years old

Definition: You are entitled to 13 weeks of severance plus $10,000. You are only entitled to the $12,500 if you are system or station protected. You must have 15 years of Company Time and be 45 years or older.

THE WINDOW FOR SIGNING UP FOR THIS HAS NOT BEEN DETERMINDED. Please wait until the Announcement to sign up for the Early Out with 15 years and age 45.

Early out package Station or System Protected

Definition: If you are station protected or system protected and AFFECTED by the reduction in force you are entitled to up to 13 weeks of severance; 12,500 dollars. There is no age limit or years of service.

1. This is not RETIREMENT .
2. Vacation will be paid for any unused vacation you have remaining for the current year, as well as for vacation accrued in the current year for use in the following year. Payment for any unused vacation days purchased through the Flexible benefits program will be refunded.
3. You will NOT receive payment for any unused and accrued sick time, except as outlined in Article 34 (j)(k) of the collective bargaining agreement.
4. You will receive travel privileges for 18 months. If you want to receive an additional 6 months you can NOT have had an attendance occurrence in the last 90 calendar days for example: IOD, Missed trip, Reported late, Sick, Maternity Sick, No call/No show, Personal Other and Unpaid Absence.
5. 50/55 Rule: If you voluntarily terminate from the company and are between ages 50 and 55 with at least 15 years of service, you are eligible for retiree status when you attain age 55 under the 50-55 rule. Keep in mind that under the “50-55 Rule” YOU ARE NOT A “RETIREE” immediately upon termination, but you become eligible for “retiree status” upon reaching age 55.
   

   1. You must be at least 50 but not yet 55 years of age, and

   2. You must have at least 15 years of company service.

6. You are entitled to Severance Pay paid to you in a lump sum and subject to taxes. Severance is calculated by the number of years of service.
7. THE WINDOW FOR SIGNING UP FOR THIS HAS NOT BEEN DETERMINED  Please wait for the Announcement to sign up for the Early Out Package.

Stand-in-Stead

Definition: If you are NOT AFFECTED by the reduction in force you could receive up to 13 weeks of severance and sever from the company without recall rights. There is no age limit or years of service attached.

1. Vacation is Pay if you completed six months of service at the time you separate from the company. You will be paid for vacation not taken before December 31, plus all vacation you have accrued during the current year. Any unused vacation days purchased through Flex Benefits will be refunded.
2. You can sign up for this anytime.

The Details are on Jetnet.

Severance Calculations: A week of severance allowance will be computed on the basis of the employee’s regular straight-time hourly rate at the time of layoff, multiplied by forty (40) hours for full time.