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Old 02-11-2015, 10:18 PM
 
1,734 posts, read 1,949,340 times
Reputation: 3901

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Quote:
Originally Posted by rdflk View Post
Who at work did you tell about your upcoming retirement and when?

...

When the time comes years from now, I'm thinking I'll do one month's notice...just enough time to get MY pension and vaca/CTO payout numbers from HR. And maybe time it to Soc. Sec. IF that's a factor. The notice would strictly be for my benefit not the job's.
These days, specifically, what do you "owe" the company other than two weeks' notice?

I work for a biiiig F50 firm that is fighting tooth and nail for market share against overseas competition. That's a really lean scenario. It has seen better days to be sure - and has a high likelihood of returning to better days. Innovation has not stopped, the patent portfolio has strengthened considerably, and there are useful products in the pipeline.

That said, here is how I view my responsibility for due notice, at the point when I retire:

1. No pension plan. Therefore, they do not need notice from me on any pension-related calculations. I
will have signed up for SS in the January following my anticipated retirement date. No vig for me in
letting the cat out of the bag any more than two weeks earlier.

2. 401K - company has no say over disposition, as long as employees' matching contributions are
vested. No vig for me in letting the cat out of the bag any more than two weeks earlier.

3. Continuation of health care benefits? At that point I'd be over 65 and will have enrolled in Medicare.
Being that the company is competing in lean markets, there are no provisions that I know of for
company-sponsored continuation of health care benefits. No vig for me in letting the cat out of the
bag any more than two weeks earlier.

4. My state has no requirement to pay accrued vacation time, holidays or severance. Therefore, once
things got lean, they do not.

5. What else IS there?

Under these circumstances, I view retiring strictly as a "sauce for the goose, sauce for the gander" circumstance.

If I view this exit scenario incorrectly, if there are some areas of entanglement that I have overlooked, I hope somebody will set me straight.

Thank you!
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Old 02-12-2015, 12:52 AM
 
2,429 posts, read 3,224,402 times
Reputation: 3330
If you're retiring and don't care about references for another job why give any notice? is there a LAW that says you have to, or a penalty if you don't give 2 weeks lead time. I'm not suggesting this. But technically do you HAVE to give ANY notice? Where I work, we don't. Most people do, of course, but we don't have to. If there are co-workers you don't want to leave stranded, you could tell them. That's totally separate from officially informing HR and management.
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Old 02-12-2015, 08:13 AM
 
Location: North Idaho
2,172 posts, read 2,083,611 times
Reputation: 2599
I'm about 17 months out, so I've been thinking about this very subject. I'd be interested in hearing any real world stories about people being taken advantage of in situations where they gave more than just a few weeks notice.

My tentative plan is to wait until after our annual salary reviews happen late this year so that my decision doesn't affect my raise for next year as well as this year's bonus, and then let my manager know that I'll be retiring on or about July 1 next year. That would give them a good 6 months to work a transition plan if they want to, and could even allow some job shadowing by my successor. I'm not too worried about any negative treatment, and would like to leave on good terms and without impacting the business. For one thing I think that's the right thing to do, and I'll still have friends here that depend on the business for their livelihood.

Dave
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Old 02-12-2015, 09:09 AM
 
526 posts, read 741,632 times
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since my final check would contain unused vacation leave, I retired in Jan so that "bonus $" would be on the lower income year.
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Old 02-12-2015, 12:11 PM
 
2,429 posts, read 3,224,402 times
Reputation: 3330
Quote:
That would give them a good 6 months to work a transition plan if they want to, and could even allow some job shadowing by my successor. I'm not too worried about any negative treatment, and would like to leave on good terms and without impacting the business. For one thing I think that's the right thing to do, and I'll still have friends here that depend on the business for their livelihood.
If six months is your notice that's fine, but wouldn't three months do the same...and not allow them to drag their feet about it? OR does that "seem too short" to you?
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