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  #1  
Old 06-05-2009, 11:18 AM
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Wow my friend got "fired"

Check it out. Company fires her but tells her she can either take the severance package OR work at one of the company sponsored non-profits for 18 months until she's 55. While she works at the non profit she will draw her regular salary which is 100k+ and then she can retire with full pension.

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  #2  
Old 06-05-2009, 11:21 AM
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That must be a very nice non profit to have 100K+ salaries...
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  #3  
Old 06-05-2009, 11:26 AM
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Sign me up to get fired please.
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  #4  
Old 06-05-2009, 11:37 AM
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Well the non profit isn't going to pay her salary, the company is going to pay her salary. She just doesn't get the bonus. All she needs is 18 months until she's eligible for retirement with the company. Then she gets her pension. Pretty good huh?
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  #5  
Old 06-05-2009, 12:11 PM
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Wish my former company offered me that.
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  #6  
Old 06-05-2009, 01:29 PM
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If they still going to pay her until she retires, why fire her?
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  #7  
Old 06-05-2009, 01:38 PM
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Quote:
Originally Posted by Jorn View Post
If they still going to pay her until she retires, why fire her?
Probably some sort of tax benefit to the company.
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  #8  
Old 06-05-2009, 01:40 PM
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Originally Posted by Fulcrum525 View Post
Probably some sort of tax benefit to the company.
Or some other benefit to her supervisor.
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  #9  
Old 06-05-2009, 01:44 PM
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I bet they can take her salary as a charitable contribution that way...

Maybe we should all start funds. make it a non-profit and have our employers just donate our salaries to the fund. That way I get paid by the JoeNFund and not my company. They can take a deduction and I still get paid
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  #10  
Old 06-05-2009, 01:57 PM
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Quote:
Originally Posted by LUVMBDiesels View Post
I bet they can take her salary as a charitable contribution that way...

Maybe we should all start funds. make it a non-profit and have our employers just donate our salaries to the fund. That way I get paid by the JoeNFund and not my company. They can take a deduction and I still get paid
Look up IKEA's corporate structure, makes for an interesting read
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  #11  
Old 06-05-2009, 03:12 PM
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That's the way to get fired. If I could get fired like that, I'd be a happy guy!
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  #12  
Old 06-05-2009, 03:19 PM
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Quote:
Originally Posted by Fulcrum525 View Post
Probably some sort of tax benefit to the company.
Also, if they fire people or lay them off there might be an increase in unenployment insurance rates.
Tom
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  #13  
Old 06-05-2009, 03:59 PM
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Sounds like a win-win to me. Any effect on benefits?
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  #14  
Old 06-05-2009, 04:56 PM
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Her bonus is probably a lot more than her base salary...
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  #15  
Old 06-05-2009, 05:41 PM
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Quote:
Originally Posted by Kuan View Post
Company fires her but tells her she can either take the severance package OR work at one of the company sponsored non-profits for 18 months until she's 55. While she works at the non profit she will draw her regular salary which is 100k+ and then she can retire with full pension.
It's smart move for the company. I once worked for a large oil company that loaned me/my expertise to a non-profit for a few months. More companies should do that.

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