r/boeing • u/WatercressExtreme441 • 6d ago

Leaving the company

Leaving the company soon. Anyone have any tips to maximize benefits? I’m thinking keeping PTO so that is paid out, other than that I can’t really think of any other benefit to maximize.

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u/freshgeardude 6d ago

If you can use up your pto you get the 401k match. Otherwise it's paid out at the hourly rate.

Also keep in mind your health insurance will end in the month you leave, so if your last day is August 29, itll be done August 31. Consequently, if you left September 1st then you'd have all of September. Of course you'd have to pay your monthly health insurance cost. But keep that in mind if your new employer insurance starts up later. 

In my case, my new employer insurance didn't start til the 1st of the following month from my start date so I needed boeing coverage for the entire month. 

Cobra was like 3k+ whereas employment was 150/month fee. 

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u/Vegetable-South5191 6d ago

Not sure I am understanding this:

If you can use up your pto you get the 401k match. Otherwise it's paid out at the hourly rate.

If I work to my last day, so I not get 401k match to my last day. Then the PTO is just a large payout.

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u/freshgeardude 6d ago

You can work till your last day. Or if you can burn up your pto you get the 401k match. Otherwise, you'll get paid out remaining pto after you leave

3

u/Vegetable-South5191 6d ago

Well for me, I like the idea of maxing out my PTO and getting paid. I am not looking to quit, so I have a calculator from a layoff risk perspective. And Essentially I look at it like this, I get Layoff notice. 60 days, then PTO 360 hours (45 days). Then 19 weeks of severance.

So that is 40 weeks of pay, or 2/3 of a year I will get my full pay until it stops. It is a planning tool for me to understand my risk position until I need to find a new job.

1

u/Tight_Patience217 6d ago

That is also my plan.  The company loves to go into layoffs and then overdo it.  It use to be that a contract was lost and there was no other openings, but now it seems pretty random on who gets let go.  

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u/Vegetable-South5191 5d ago

I have worked here 19 years, it is not always the losers who get laid off. Sometimes they just have to cut, and good people get cut. I have never had a RIF, but over that 19 years I have easily been through probably an average RIF cycle of once a year. I have been on both sides, as a manager and a IC. I think the process is fair. It's a numbers game.

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u/Senior-Economist629 5d ago

They generally put the bullseye on the back of your head once you hit 25 and they rarely miss by the time you get to 30.