URGENT MESSAGE TO ALL MSII’s WHO ARE ELIGIBLE TO RETIRE (Sick Cash-Out)
Yesterday, VP Joe Betancourt and I met with the highest levels of Senior Management and Labor Relations to discuss the MSII contract.
Without getting into all of the details of those discussions, we are sorry to tell you that at this time we will not be able to secure a contract that allows MSII’s to cash out more than 120 sick days when retiring.
This is something that we are extremely angry about. However, our responsibility is to make sure that you know what is happening, so you can make an informed decision that is best for you and be paid as much as possible for being a good employee and not using your sick time.
Under the current MSII agreement, employees receive a lump sum payment of one-half of their accumulated sick bank for up to 240 days (for a maximum payment of 120 sick days).
IF YOU CURRENTLY HAVE 70% OR MORE OF YOUR POTENTIAL SICK TIME AND ARE ELIGIBLE TO RETIRE, HERE IS WHAT YOU SHOULD CONSIDER:
IF YOU ARE ELIGIBLE TO RETIRE, HERE IS WHAT YOU SHOULD CONSIDER:
If you retire as an MSII, all of your sick time above 240 days is currently “use it or lose it”. You should consider using your sick time rather than leaving it on the table when you retire.
Why work when you’re sick, when you can be paid to use your sick time!
For years, management has emphasized the importance of employee availability and encouraged employees not to use their accumulated sick time. But when it comes to retirement and being paid for your unused accumulated sick time, those same managers tell you, “Thank you for your service, but tough shit! you lose”!
We are giving you this warning NOW because we want you to know this opportunity may not be available for much longer.
Know your options. Understand what your retirement benefits are worth. And make the decision that is best for you.
Philip Valenti
President
