About sixteen years ago, I met him for the first time. My trainwreck sibling brought home this adorable puppy he had no business adopting because he had not one thing in his life that wasn’t a mess. I was furious at my sibling – he didn’t even take care of himself, how could he drag
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March 17, 2009
I’ve been doing some research on all applicable benefits that I need to address, secure or continue after the layoff, most of the information I need is available at my employer’s website. I’ve truncated some of the information for clarity’s sake. It’s very important to make these decisions while I have the luxury of time to think about it because the website explicitly states:
Enroll within the deadlines. If you do not act by the deadlines, you will not be able to purchase the coverage at a later date.
Medical and Dental Plans
Coverage ends on the last day of the month in which you terminate.
* You may elect to continue your coverage for up to 18 months (COBRA). HMO participants who exhaust their initial 18 months of COBRA coverage may be eligible for an additional 18 months under Cal COBRA. Your election must be returned to the Benefits Administration office postmarked within 60 days from your termination date or the date of notification, whichever is later. If you do not elect COBRA within 60 days, the COBRA opportunity is forfeited. You will pay the full premium plus a 2% administrative fee.
~ It’d be ideal for me to schedule my last day in the first week of the month if I have a choice. (Doubt it). If I leave due to securing new employment, I should not *fingers crossed* need to worry about COBRA. I’ll keep the paperwork on hand anyway, just in case.
Something I did NOT know before: according to this New York Times article, I should try to wait until the end of the election period to take COBRA to avoid paying for those two months of coverage if possible. If it turns out I needed coverage in Month 1.5 post layoff, I can just make up the two months’ worth of premiums and still be covered. I will, of course, check with the benefits department to make sure that’s true. And get it in writing. š
Life Insurance
Group coverage ends on the last day of the month in which you terminate. Coverage may be converted without evidence of insurability if you apply within 31 days of termination.
~ If I haven’t selected outside insurance by that date, then I’ll convert. For the time being, I’ll apply for supplemental insurance at 5X my current salary in case I want to take it with me. The life insurance quotes I’m getting aren’t so attractive.
Accidental Death and Dismemberment Insurance
Coverage ends on the last day of the month in which you terminate. Conversion to an individual plan must be made within 31 days of termination.
~ Do I really need this?
Long Term Care
Coverage through payroll deduction ends the last day of the month in which you terminate. You can continue coverage by making a direct payment to the insurance company. Your premium remains the same. Contact the carrier directly within 31 days of termination to convert to direct billing.
~ Continuing negotiations with my dad. Better make it snappy!
Old Retirement Plan
If you have satisfied the vesting requirement and the present actuarial value of your benefit is less than $5,000 when you terminate employment, you will need to take action regarding your benefit. If you do not take action regarding your benefit, we will cash out your money to you if the value is $1,000 or less. If the value is $1,001 to $5,000, we will rollover your money into an IRA. If the value is more than $5,000, you cannot receive payment or rollover the benefit but will receive retirement benefits based on its value when you retire.
~ Vesting was dependent on 5 years of employment so I wasn’t counting on this. It was funded entirely by my employer so I wouldn’t be out of pocket but when I got in touch with the plan supervisor, she told me I was auto-vested when they changed our plan. Nice! I will roll it over directly into my Vanguard account, but she won’t tell me how much it’s worth until I know that my time here is done.
Current Retirement Plan
Your contribution to the Retirement Plan will be taken from your final paycheck. Supplemental Retirement Plan contributions are not taken automatically. Contact your investment company or your benefits office to discuss options regarding your retirement account.
~ Simple, I have enough in the these accounts to maintain my relationship with Vanguard after separation.
Flexible Spending Accounts (FSA)
You may submit claims for eligible dependent care services incurred through the end of the calendar year in which you terminate. You will be reimbursed up to the amount remaining in your account. Expenses submitted for reimbursement must be incurred prior to your termination unless you elect COBRA continuation of your health care FSA on an after-tax basis.
~ Will make sure to be seen by all my doctors, have prescriptions filled, and costs reimbursed before we’re outta here. Doesn’t make sense that I would continue FSA on an after-tax basis since the point is that it’s a pre-tax benefit.
Tuition Assistance
If you leave during a semester, you will receive a pro-rated fee bill and are responsible for paying the cost of tuition for the remainder of the semester.
~ N/A for me. Unfortunately, I never took advantage of this benefit.
Looking back, I’ve been quite blessed to have such comprehensive benefits even if I didn’t fully maximize all of them. Other than the health care, the tuition reimbursement could have paid the largest dividends over time in terms of furthering my career if I could have made time to attend classes. On the other hand, I did manage to earn a major raise by working my butt off instead of taking classes, which was hugely critical to my ability to pay the bills, pay down debt, and save so much. If I can land another job with similar benefits, I will definitely take advantage of free (though taxed) education!
March 15, 2009
After the hike yesterday, my joints are rather sore and I’m in need of some resting up to head off a major ‘ritis flare-up. Therefore, health day!
The shoulder has been out of whack for a long time, so I’m getting that worked on today. We’ll have a late lunch of cheese pizza and salad, and catch up with some old friends.
The Futility Fund (administered by Vanguard) was infused with the Rollover Contribution, finally. That’s $800+ down that drain. š
I’m still waiting for that last insurance reimbursement check from the credit card company, though. Should call and find out what’s taking them s’darned long this time.
Hope everyone else is having a fabulous day!
I’m ready for a nap. Was up at 8:30 to make an errand run, having only 0.5 L bottles about, and thought I might pick up some TJ’s snacks. The snacks were a no-go but I did escape Target with a lovely new water bottle. I wanted the first one, but got the second one in blue because the shelves were understocked.
It’s actually cooler than I gave it credit for. Had wanted a very simple, sturdy bottle without straw/spout/drinking enabling device, but the pop-up straw worked better than expected ($10.50). It’s a good thing I tend to fall more in love with things after I acquire them.
They had Club crackers for $2.40/box, half the grocery store price, so I grabbed a box of original and multigrain. Made it out of Target in under $15 bucks, and 15 minutes — not bad at all.
The day-rate parking permit was $5, and it took us about 20 minutes (?) to get up to the parking area. We thought we were going to take the trail up to the ski lift area, but completely missed the turnoff because there was snow everywhere. It was awesome!
We also tried to convince my friend, who wanted to go way past the point of our endurance/snowshoeing capabilities that these were bear tracks.
She didn’t buy it, but after promising that everyone would go buy hiking boots and come back next weekend, she agreed to come back down the mountain. Thank goodness, I’m way too out of shape to be doing a major 10 mile hike along something called the Devil’s Backbone our first time out this year. Let’s work up to that, shall we?
I think we probably did a good 3 miles or so up the wrong trail, with a steepish grade, slogging through snow, slush, ice and mud. My toes are rather grateful that we let up when we did, the ground was so uneven and slippery, I’m surprised no one fell.
Also, we all picked up “walking sticks” along the trail which were a joke at first but came in handy as the snow got deeper and slicker. This was my trusty trail assistant:
I’m looking forward to going out again, and next time I’ll be sure to eat a real breakfast beforehand. Eating only a snack wasn’t the smartest planning, but it sure made my bacon cheeseburger with crispety, melt-in-your-mouth bacon, and side of fries seem like pure heaven by 3 in the afternoon! ($6.50)
Day’s total: $27
March 13, 2009
And here’s what’s been rattling around upstairs:
1) Want to save more. How can I save more? (Assuredly, this period of binge-saving will be followed by a period of purge-spending. Just came off that spell a couple days ago.)
Thanks to the recent spate of car activity, monthly expenses have come down by $500. That‘s why the expense fund seems so robust. That can be directed to savings right away. What else can I cut out?
2) If the period of unemployment lasts through, say, the end of the year, I’ll have missed out a lot on retirement contributions. The goal is to have a lot of cash in the cushion, but what if some of that cash were stashed? Not too much of it, but an uptick in contributions seems like a good idea. It’s the opposite of DCA – investing in large lumpy sums for the next three months in anticipation of none at all from July through December, but I think it’s better than nothing at all.
3) Speaking of stashing, what about diversification? Ought I revisit the trad/Roth IRAs? There’s still time for 08 and 09 contributions.
During this period of uncertainty, cash certainly reigns (and yes, I still want my 50K of savings for lack of a more secure position) but there’s always an itch to earn more than sub-2% interest rates.
Grocery store scores:
Last night’s trot ’round to the Fresh ‘n’ Easy turned up a 4-pack of “snacking apples,” 4 for $0.75 marked down from $2.89. They were a bit over a pound, so that’s not a bad per pound price.
Also, the red russets were 3 lbs for $2.88. On the pricier side until checkout revealed a $1.88 price tag.
Certainly not a comprehensive shop, but it was a quickie run, primarily for a fruit for lunch tomorrow. Meant to grab a couple of the monster-sized burritos at $2 per, they looked to be at least 1.5 pounds but I couldn’t be sure they would last the weekend for next week’s meals and I’m not sure that I wanted them for the weekend. All told, never came near to using the $2 off coupon. (Minimum purchase, $10).
March 12, 2009
Under what circumstances would you feel comfortable accepting monetary assistance?
I was recently asked, why, if the benefactor was willing and able, can I not accept help? That question meant monetary help, and that’s a critical difference from all other kinds of help, so that’s the part we’re going to address today.
During a conversation about the economy, the state of my career, and rather justifiable (in my mind) anxiety that I might be flat broke 12 months from the date I’m laid off, this rather potent question was asked. And I floundered in answering.
Because I can’t stand the taste of humble pie? Because I’ve not asked for money since I was 17? Because if I can’t stand on my own, I would still like to have my pride? In this last reason, I’m staunchly my father’s daughter, even despite the grief that’s brought me in his practice of it.
The truth is, it’s all of that and more. It’s that I would only think of myself as “needing help” if I were in truly dire straits. If I couldn’t afford the rent, the bills, the groceries. I wasn’t brought up specifically with this particular insane independent streak, but I’ve developed the mindset that it’s simply unfathomable to think that I would ask for money if I weren’t at the end of my resources. Arriving at that point, however, means that there’s a whole world of guilt and uncertainty involved. I wouldn’t need small sums of money, it’s not just spotting me a tenner for lunch. It’s rent, it’s gas, it’s insurance, it’s big money.
In my personal experience with money and people, you cannot rely on others for your basic needs: you stand or die alone. That’s not true for everyone, though, and I realize that from the outside, it looks like arrogance. (At least one friend has interpreted it that way.) After all, I always step up and help others to the best of my abilities. It may not take the form of cash but it’s still help. How then, do I lack such faith in good people and insist on such isolationist responsibility?
I’m casting about for a better understanding of the mentality that allows me to be liberal in my giving, and highly conservative in my getting. Does this attitude need adjusting? If so, how do I remain true to my bootstrapping principles, while recognizing when it’s appropriate to accept assistance? Or is the second fear, that it’s a slippery slope from asking for help when needed to asking for help all the time, justified?
*Note: One rather astute friend pointed out another way to look at it: if asking for and accepting help is so foreign or unfathomable, then I can trust that I will do everything in my power to prevent that situation from developing. At least there’s that.
**Another Note: Perhaps I’m uncomfortable with having to be on the receiving end of this conversation.
March 11, 2009
Just because the act of writing supposedly helps commit things to memory, or at least to the internet server for later access, let’s make this official:
Life would be easier if I owned a nice little can opener. Not that using the grungy, rust-caked, creaky can opener in our “kitchen” at work will kill me outright, but if a slow death-by-food-and-other poisoning can be avoided with a cute gadget, I’m all for it. And if it can’t be cute, then clean, functional, and RA- friendly are acceptable attributes.
Life would include a heck of a lot more mac ‘n’ cheese, and by default be better, if I owned a cheese grater. It’s just so hard to decide between graters, slicers, grater/slicer, 6 in one graters, etc. They all seem like a good idea. A fine, cheese-enabling idea.
**I’m getting forgetful in my current state of mind: it’s been almost a week and I still haven’t submitted a new FSA claim form for the latest batch of sickie supplies.
March 10, 2009
Most of them were for the weekend, but one was specifically for tonight.
Tonight, at 9 pm, a walking expedition to the local Fresh ‘n’ Easy was scheduled. Armed with a $2 off $10 or $5 off $20 coupon, a foray into the after-hours discounted produce and possibly other meal components was meant to bear much fruit and even veggies for the lunches of tomorrow and tomorrower.
As we all know, I don’t like the scurvy.
Instead, held captive by Dr. Gregory House on Hulu.com and the ice-cold (45-degrees for the layperson who knows of winter) winds, huddled in the room stayed I. No fresh bought comestibles, no provender, for my lunch tomorrow.
Luckily, leftovers shall be the saving of me. There’s some meatloaf from Sunday’s lunch that will serve admirably. Perhaps also a can of corn. Perhaps I’ll be that adventurous. Better luck tomorrow.
