This year, the CPS Deferral letter(s) will be sent to active eligible employees' work email addresses. (Employees who are on a leave of absence or short-term disability will receive a letter mailed to their home).
As you are aware, the communication informs eligible employees about the option to defer their entire CPS award into their Verizon Savings Plan account.
Employees who wish to defer their award must take action between January 4, 2021 and February 5, 2021.
Employees who choose not to defer will receive their CPS award on March 5th, 2021 in their regular scheduled paycheck.