Personal Finance Tip-Don’t Make This $375,000 Mistake

Ever been fired-Don’t sign anything until you read how we saved this woman from making a $375,000 mistake. The woman worked at Qwest Communications, yes, the only baby bell who didn’t give phone records to the NSA!

She was fired for allegedly not getting advance payment from a credit risk customer. Come to find out it was a system error and not her fault at all-this was ten months ago. She is a union member, and her rep called her a few weeks ago with an offer from Qwest: We made a mistake-don’t come back to work and we will give you $4,000 dollars. $4,000 dollars…She was making $45,000 a year plus benefits! She came to me and asked advice. One thing that I will not do is ever tell someone to take an offer or not-but we did do some math. For 10 months she was due $37,700 in back wages. Another $3,000 for matching 401-k contribution and $3,500 she had paid for health coverage-coming to a total of $44,000 that Qwest should have offered her. But now it gets interesting. She had seven years with the company and in three more years she would be pension eligible which would give her another $175,000 dollar lump sum rollover!

I consulted with someone from the union and he said she absolutely should ask for the three years pay plus benefits since the company was in fact admitting guilt!
Well, her additional three years salary plus 410-k match and health insurance comes to $156,000 dollars!

Now look at the money: $156,000 for three years wages, 410-k and health
For her pension : $175,000 lump sum eligible
Back wages for 10 mos: $44,000
Total: $375,000

Fortunately, she is gainfully employed and will be meeting with an attorney for wrongful termination-he will take 25% of that $375,000 but I’m glad she asked questions before signing off on anything!

Steve Mertz
Ask Questions Before Signing!

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