10 Tips if You're Leaving for PepsiCo Employees

This article is important to you considering your experience at PepsiCo as an employee. Many people ask about ways to stay afloat while they’re in-between jobs. What people fail to realize is oftentimes the steps you take before leaving your current job can be even more crucial. Here are a few tips to consider before leaving PepsiCo.

Open a line of credit at your bank or credit union. You may also consider opening at least one credit card, or increasing the credit limit on cards you already have. It can be very difficult to get a loan, get a line of credit or open a credit card after you lose or leave your job at PepsiCo. Banks usually do not want to lend money to people who are unemployed. Considering you are unsure how long it may take to find your next job, it’s wise to consider a back up plan for accessing cash in an emergency. It's possible you've never been in a position where your credit score was low or you could not get a loan. When you are unemployed, your credit rating and ability to get credit will almost certainly take a hit.
Write down everything . In a stressful time, it’s good to keep accurate notes, with dates and times of discussions and who participated in those discussions. Keeping a journal can be very helpful in tough times. It helps you keep track of crucial information and also helps you keep tabs on conversations you have with any superiors at PepsiCo regarding your activities, or impending layoff.
Use Career Path to build your Resume . Once your resume is looking good, utilize LinkedIn to pursue opportunities and connect with friends, employers, or even old coworkers.
Print out/download any corporate training documents you have.

Make a list of those around you who are in the same position. It may be a good idea to stay in touch and support one another. Make LinkedIn connections with those close to you. You may feel upset or embarrassed, and your instinctive reaction may be to lay low. It's wise to confide in positive-minded family, friends, and former colleagues. Career counselors and support groups can also make a big difference and can help you gain an alternative perspective on your situation. You are not alone. Many others at PepsiCo are in the same situation and will want to discuss their frustrations.

Resolve Anything You're Uncertain About . Many people in this situation are still wondering what the criteria was that dictated their removal from their position. Rather than dwelling on what the reason might have been, it’s wise and sometimes relieving to ask your supervisor or leadership team at PepsiCo what the decision criteria was based on.

Look Through All Documents Thoroughly . The ADEA sheets will list, by job title, the age of those in your universe, the population total of people in your universe with that title at that age, the number “selected” to participate in the surplus, and the number not selected. This will provide you with valuable information on age & job title. Look out for anything that may be considered age discrimination. You may want to use an excel document to sort this information.

Download all of your contacts . Anyone you’d like to retain in your life – friends, colleagues, etc.

Print out/download all of your pay stubs.

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Keep Networking! LinkedIn should be a major focus of your efforts. Whatever the source, attempt to make as many connections as you can, and maintain your contacts – with peers, supervisors, vendors, etc. Despite your employment ending at PepsiCo, your relationship with everyone at PepsiCo doesn’t have to terminate as well. Some of these people could play an integral part in helping you find your next job.

What are the key steps an employee needs to take to prepare for retirement from PepsiCo, and how do these steps ensure that they maximize their benefits and entitlements?

Preparing for Retirement: Employees preparing for retirement from PepsiCo need to understand their retirement benefits, estimate their financial needs, and officially inform PepsiCo of their decision to retire. These steps are vital to ensure they maximize their benefits, including pensions, 401(k) plans, and retiree healthcare. The PepsiCo Savings and Retirement Center at Fidelity helps guide employees through this process, ensuring they make well-informed decisions(PepsiCo_October 2022_Ge…).

In what ways can PepsiCo employees navigate the complexities of their pension options, and what considerations should they have in mind when deciding between a lump sum and annuity?

Navigating Pension Options: PepsiCo employees can choose between a lump sum or an annuity for their pension benefits. When deciding, they should consider personal circumstances, such as life expectancy and financial needs. Employees can use the NetBenefits platform to estimate pension values at different retirement dates and consult financial counselors through Healthy Money for personalized advice(PepsiCo_October 2022_Ge…).

How does the PepsiCo Retiree Health Care Program function after retirement, and what criteria must be met for an employee to effectively enroll and maintain this coverage?

Retiree Health Care Program: PepsiCo offers a Retiree Health Care Program available until employees reach age 65, after which coverage transitions to the Via Benefits marketplace. Employees must actively enroll within 31 days of retirement to maintain coverage, or defer enrollment if preferred. The Retiree Health Care Contribution Estimator helps estimate future costs(PepsiCo_October 2022_Ge…)(PepsiCo_October 2022_Ge…).

How do the Automatic Retirement Contributions (ARC) at PepsiCo enhance an employee's retirement savings strategy, and what options do employees have to manage their ARC investments?

Automatic Retirement Contributions (ARC): Employees who receive ARC can manage their investments through NetBenefits. These contributions are automatically added to their retirement savings, enhancing long-term financial security. Employees can review and adjust their investment options to align with their retirement strategy(PepsiCo_October 2022_Ge…).

For employees aging 50 and over, what catch-up contribution options does PepsiCo provide to help with their 401(k) savings, and how can they take advantage of these benefits in their retirement planning?

Catch-Up Contributions: PepsiCo employees aged 50 and above can contribute additional amounts to their 401(k) plans under the catch-up contribution option. This benefit allows employees to boost their retirement savings, helping them prepare more effectively for retirement(PepsiCo_October 2022_Ge…).

What resources are available through PepsiCo for employees looking to calculate their retirement expenses, and how do these tools help in setting realistic financial goals for retirement?

Retirement Expense Calculators: PepsiCo provides tools like the Fidelity Planning & Guidance Center, which helps employees estimate retirement expenses. This tool includes health care costs, mortgage payments, and other potential retirement expenses, enabling employees to set realistic financial goals(PepsiCo_October 2022_Ge…).

How should employees at PepsiCo approach Social Security benefits when planning for retirement, and what role does the company play in facilitating their understanding of these benefits?

Social Security Benefits: Employees approaching retirement should consider when to start Social Security benefits. PepsiCo provides guidance through Healthy Money, helping employees understand how Social Security fits into their overall retirement strategy(PepsiCo_October 2022_Ge…).

What impact does health care coverage have on retired employees' finances, and how can PepsiCo retirees effectively use the Retiree Health Care Contribution Estimator to prepare for future health costs?

Retiree Health Care Contribution Estimator: Health care can significantly impact a retiree's budget. The Retiree Health Care Contribution Estimator is a tool PepsiCo retirees can use to prepare for future health costs. It helps employees estimate their contributions and explore different plan options to manage their post-retirement health care expenses(PepsiCo_October 2022_Ge…).

How can employees get in touch with the appropriate resources to learn more about PepsiCoâ€™s retirement benefits, and what specific contact information should they keep handy during this process?

Contact Information: To learn more about PepsiCo's retirement benefits, employees should contact the PepsiCo Savings and Retirement Center at Fidelity at 1-800-632-2014. Additionally, they can access resources on NetBenefits or consult Healthy Money counselors for personalized financial guidance(PepsiCo_October 2022_Ge…).

What are the implications of interest rate fluctuations on pension benefit calculations at PepsiCo, and how should employees factor these rates into their retirement planning decisions? These questions encourage a comprehensive understanding of the various aspects of retirement planning specific to PepsiCo, as well as consideration for personal financial management.

Interest Rate Fluctuations and Pension Calculations: PepsiCo employees considering a lump sum pension payout should be aware that lump sum values are inversely related to interest rates. A higher interest rate results in a lower lump sum payout, so employees should monitor interest rate trends when planning their pension distribution(PepsiCo_October 2022_Ge…)(PepsiCo_October 2022_Ge…).

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

PepsiCo offers both defined benefit and defined contribution pension plans. The defined benefit plan provides a stable retirement income based on years of service and final average pay. The defined contribution plan includes a 401(k) option with company matching contributions, allowing employees to save for retirement through various investment options. PepsiCo also offers a Profit Sharing Plan and a Stock Bonus Plan, providing additional retirement savings opportunities.

Restructuring and Layoffs: PepsiCo is undergoing a restructuring process that includes laying off approximately 2,000 employees globally (Source: Reuters). Operational Efficiency: The company aims to save $1 billion annually through these measures. Financial Performance: PepsiCo reported a 5% increase in net revenue for Q3 2023, driven by strong demand for its beverages and snacks (Source: PepsiCo).

PepsiCo grants RSUs that vest over time, providing shares upon meeting vesting conditions. Stock options are also available, allowing employees to purchase shares at a fixed price.

PepsiCo has implemented substantial enhancements to its employee healthcare benefits, adapting to the current economic, investment, tax, and political environment. In 2022, the company introduced a robust employee well-being program based on three pillars: "Be Well," "Find Balance," and "Get Involved." The "Be Well" pillar includes fitness programs, nutrition education, and access to on-site fitness centers and virtual fitness classes. The "Find Balance" pillar focuses on mental and emotional health, providing access to virtual mental health services and a stress management app. The "Get Involved" pillar promotes community involvement and social connections, essential for holistic well-being. These initiatives aim to support employees' physical, financial, and emotional health, ensuring they can bring their best selves to work. In 2023, PepsiCo continued to expand its healthcare offerings, emphasizing mental health support and financial well-being. The company launched the "Healthy Money" program, which provides personalized financial education and resources to help employees manage finances and prepare for retirement. Additionally, PepsiCo enhanced its environmental, health, and safety (EHS) culture with the "Courage to Care" initiative, which includes comprehensive health and safety policies and procedures. These efforts reflect PepsiCo's commitment to creating a supportive and engaging work environment, which is critical for attracting and retaining top talent in a dynamic economic landscape.