How much notice should I give for retirement?

[Anonymous]

Anonymous wrote:If you have a pension, I wouldn’t give notice one second before you’re fully vested.

This! Don't be naive OP. They could cut you the second you tell them.

[Anonymous]

Anonymous wrote:Depends on the culture and norms. You’ve been there 43 years so you should know… will they use your early notice as a way to push you out the door if belt tightening is needed? Also, I’m sure you have deep knowledge. But no one is indispensable. The company will not fall apart if you leave and they bring in someone else to learn the ropes - in 6 months that person is going to be at least competent in the position, maybe not masterful to your standards, but they will be fine. All this to say, it’s not as simple as giving notice - it requires some strategy on your part.

She hasn't been at that company 43 years. Reading comprehension is important.

[Anonymous]

2 to 3 months. Ive been places where people gave 6 months and that kind of felt like too much. But less than 2 months is stressful for planning purposes.

[Anonymous]

2 weeks, or if you’re feeling generous, 1 month. For high level employees, like executives, it’s often in their contract how much notice they need to give if it’s 3 months, 6 months, etc. If you don’t have it in writing, just give as much notice as a normal departure aka 2 weeks. They would cut you in a heartbeat if needed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you have a pension, I wouldn’t give notice one second before you’re fully vested.

This! Don't be naive OP. They could cut you the second you tell them.

Op here.

I am part of a union. I get six months severance if they lay me off. And to fire me would take months, and they would have to have proof of something.

I am not saying it is impossible, but they have never done such a thing in all the years I have been there.

The people I know who were fired were drinking on the job or starting physical fights or emotionally abusive on the job.

And in all of those cases, the employees were kept on for months before they were let go.

[Anonymous]

Anonymous wrote:2 to 3 months. Ive been places where people gave 6 months and that kind of felt like too much. But less than 2 months is stressful for planning purposes.

Op here. Leaning toward 3 months.

[Anonymous]

Anonymous wrote:Depends on the culture and norms. You’ve been there 43 years so you should know… will they use your early notice as a way to push you out the door if belt tightening is needed? Also, I’m sure you have deep knowledge. But no one is indispensable. The company will not fall apart if you leave and they bring in someone else to learn the ropes - in 6 months that person is going to be at least competent in the position, maybe not masterful to your standards, but they will be fine. All this to say, it’s not as simple as giving notice - it requires some strategy on your part.

Yes to this. Be very careful. I know someone who was let go soon after they made it known they planned to retire in a few months and not in a pleasant way. I know in another case someone who told their boss they planned to retire in a few months. Her boss told her not to say anything yet to HR. They put her on a list to be let go but with an amazing severance package and her retirement package also. It was a win for the boss because he could say they met the reduction quota with someone who was going to leave anyway. It worked out great for both parties in that case.

I don't know your particular situation but be very strategic. I'm paranoid and unless I worked for the government in the before days, I would probably just give the minimal time needed to process paperwork and get out the door.

[Anonymous]

Once you give notice you'll be a lame duck. I'd give a month at most. Perhaps offer to come back as a contractor if they need more transition time but they likely will figure out out and won't need you

[Anonymous]

Anonymous wrote:

Anonymous wrote:I gave them three months, which is ending soon. It's a long story but needed the money. Agree, within a week if it even takes that long, people will forget I worked there and vice versa. Life goes on. Honestly, if a F500 CEO leaves, how much effect does it really have? Just a new person with a new strategy.

I produce weekly work that has to get done on a tight deadline. There is no skipping it. The company would lose thousands of dollars weekly. It's a high profile product and very specialized. My boss can do it almost as well as me; others could get something produced but the quality would be missed.

Anyway, they will get it out somehow and eventually will be just as good as my work or better. But it will be hell for the person who has to take it over until they can ramp up.

I hate to just leave with only two weeks notice. It would be terrible for the person who gets thrown into it.

If there's no downside to you, you should give a huge amount of notice - 6 months or so. In my office, senior people who plan to retire do that, and it's appreciated and not punished in any way. But if you work in a place where you could get harmed - wage cut, worse working conditions, etc. - then hold off to protect yourself.

[Anonymous]

In this economy, I would wait until the day I get notified that I am fully vested. Then I would notify that I am happy to work another 6 months to train and off board.

Do not let them know until you know what you are fully getting per month and are satisfied with how your retirement accounts will pay out. This means do your due diligence and speak with your plan administrator about ALL of your options.

[Anonymous]

Op here. Plan to tell my boss of my plans Monday so we can figure out some transition plans. Won't write the official letter until 30 days out most likely.

There's been some absolute insanity in my company in the past three weeks so I want out before June. I am working on my pension paperwork now (it is through my union, not the company HR) and have Medicare lined up to start the first month I am eligible. Supplement is picked out and I just need to figure out my drug plan now.

I feel a bit like a rat leaving a sinking ship but I have my family to think of.

Thanks for all your earlier input.

[Anonymous]

How big is the company?
Have they been good to employees?

[Anonymous]

Hey op once you leave and you dont care anymore, come back and let us know what company this was. Sounds like a great place to have worked for

[Anonymous]

Good luck op!

[Anonymous]

Anonymous wrote:How big is the company?
Have they been good to employees?

About 10,000 across the U.S.

The overall corporation is not great, but my location is.