Questions Regarding VSP Offering
July 11, 2020
Many of our Local Council Offices and our MEC Benefits Committee continue to receive questions about various aspects of insurance coverage in the event someone was to participate in the Voluntary Separation Program (VSP2). We understand there are a number of questions and considerable frustration when trying to obtain answers to questions. We are learning, in many cases, answers to questions are including in the Program Overview for your specific offering.
We want to be very clear. Every offer is uniquely tailored to your specific circumstances. Your age, your years of service, your insurance coverage, the number of dependents, etc. are all contemplated in the unique offering that is available to you via Help Hub. While we understand that everyone is accustomed to the Union being able to address your specific benefits, all of which are derived from our Contract, the VSP2 is a uniquely different “animal.”
We all know that deciding to leave the job we love and the life style to which we’ve become accustomed is, perhaps, one of the most difficult decisions of our lifetime. It is, in fact, a life changing event.
Prior to deciding, you must invest the time to understand what you are agreeing to if you elect to participate. Read over your individual Program Overview and the Program Q & A that accompanies it. These are tailored specifically to you, your contractual entitlement based upon your pre-merger airline affiliation. The VSP is an enhancement to your contractual entitlements which is laid over your contractual retirement benefits.
Remember, option B of the VSP is no longer available. While this option may continue to appear on your custom-tailored program offer, that option ended on June 18, 2020. You must make your decision on the VSP2 no later than July 15, 2020 and you need to set time aside to review and understand the VSP2 offerings before doing so. We trust you will invest the time in understanding the options the VSP2 create for you. If you need assistance, use the tools available via Help Hub to seek answers to your questions. Time is running out to make this election.