Quote:
- Did you go on vacation and just not come back from vacation?
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Sorry it wasn't clear...a co-worker didn't let anyone know he was retiring until he was walking about the door on vacation.....so his last day working was not his last day on the payroll. He technically retired after his vacation was up, but obviously never came back from vacation.
So basically I was asking did you physically leave while you were still on the payroll, and let leave or vacation take you to your "effective retirement date."
Where I work as of January you earn all you year's vacation for that year, AND you have to work an entire quarter (can't be short not even a day) if you want to get your defined contribution for that quarter. Soooo, he left work on December 21st, but because he was "on vacation" and therefore the payroll until his retirement two weeks later, January 4th, 2015.....he was able to get paid for all his 2015 vacation, AND get his last quarter 2014 defined contribution. Where I work if you leave, let's say on March 25th, or June 28th, or December 28th you won't get any DC for those last three months -- NONE. So if you're going to retire you might as well do it early in the next quarter, to get paid for the last one.
I like the way my co-worker planned his exit. Clearly he worked all benefits and finances to his advantage. I plan to do the same.
One co-worker had a month's leave that he took going into retirement. So he didn't work the last month he was "employed." Sweet.