Freedom To Work
When the time comes to consider your retirement, Abbott will be there to help you transition into this next stage of your life.
Freedom to Work
The Abbott Freedom to Work (FTW) plan helps you ease into retirement on your terms by allowing you to stay engaged with work while enjoying time to pursue other interests. The program also allows Abbott to set up a structured way for you to share your knowledge and experience with others before you officially retire.
As you think about your retirement, consider which of our two FTW programs may be right for you: the Custom Schedule Program and/or the Emeritus Program.
EASE INTO RETIREMENT
Check out the Freedom to Work Handbook to learn more and see if you’re a good fit for the program.
DOWNLOAD THE FTW HANDBOOKTHE CUSTOM SCHEDULE PROGRAM
The Custom Schedule Program allows you to reduce your work schedule while maintaining your current job or role. Your pay/bonus is reduced in accordance with your reduced schedule, but you will NOT see a significant impact on your full-time benefits.
In the Custom Schedule Program you can choose to work:
- Four days per week all year, or
- Five days per week, but purchase additional vacation (up to a maximum of five weeks)
ELIGIBILITY
The Custom Schedule Program is available to employees at any grade with manager approval. You must be age 55 or older and have 10 or more years of Abbott service (not including contract service or prior service at an acquired company) in the year you are enrolling and be currently achieving or exceeding performance expectations.
THE EMERITUS PROGRAM
The Emeritus Program allows you to maintain your schedule, pay and benefits, but take a step back in areas of responsibility. For instance, if you’re a people manager, you may decide to become an individual contributor. It’s an ideal program if you enjoy mentoring and can provide leadership regardless of your role or title. Just know that if you end your FTW enrollment, it may be difficult to move back to your original role if it has been filled.
ELIGIBILITY
The Emeritus Program is available to employees in Grade 18 or above. You must be age 55 or older, have 10 or more years of Abbott service (not including contract service or prior service at an acquired company) in the year you are enrolling in FTW, and have approval from your manager and division vice president. You also need to be currently achieving or exceeding performance expectations.
HOW TO APPLY
- Take the self-assessments located in the FTW Handbook to determine which FTW option is right for you.
- Talk with your manager about your interest in FTW.
- Refer your manager to the FTW Manager Resources on under Manager’s Toolkit > Freedom to Work.
- Propose a Freedom to Work arrangement with your manager by creating knowledge transfer and work redesign forms found on pages 25-26 of the FTW Handbook.
- Once your manager has given approval, complete and return the Enrollment Form (located in the FTW Handbook) to the Abbott Benefits Center by uploading it from your account on the Abbott Benefits Center website or by fax at 847-554-1535.
- Monitor your progress and make any necessary adjustments with your manager.
GET A RETIREMENT PROJECTION
The FTW Personalized Statement lets you get projections of your retirement benefits from Abbott given different retirement timeframes. Call the Abbott Benefits Center at 844-306-9222 to request a personalized FTW statement.