United Revises Corporate Retirement Policy
August 18, 2017
As we know, there has been considerable discussion and rumor about additional Early Out opportunities. Much of this discussion has served to create questions and uncertainty for those considering taking the next big step into retirement. Despite public statements by senior management stating that an early out option is not planned, these rumors have persisted to the detriment of those planning for retirement.
This past week, Oscar Munoz directly addressed these persistent rumors in a letter to employees. Acknowledging the value of seasoned employees “wealth of experience, knowledge and wisdom” and their contribution to our company, Oscar explained that an early out option does not make sense for a company that is entering an “exciting growth phase” where significant hiring is contemplated in many locations. Put simply, “an early out doesn’t make sense in the context of a thriving, growing company like the United we’re building together.”
In an effort to bolster employee confidence when making a decision to retire, a new clause has been included into the corporate retirement policy. This clause provides the assurance that should there be a dramatic change of events in the industry where an early out is offered within thirty-six (36) months after retirement, those employees who retired in good standing, meeting all early out eligibility criteria would be eligible for the financial benefits of the program even after retiring. If you have additional questions on this policy revision, review the Policy and FAQ.