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Old 06-01-2019, 07:00 AM
Location: Williamsburg, VA
3,551 posts, read 1,647,282 times
Reputation: 10162


Originally Posted by matisse12 View Post
Perryinva has explained in a number of posts (some long) and in other threads his mixed feelings about his retirement and not working - feelings about retirement and working which many or most retirees do not share, and are individual to him.

Sometimes I really like long posts like he'd write. Everyone is going to approach retirement in a different way, and I've enjoyed following his story. And now, it's time for the next chapter. Looking forward to seeing how the journey into and through retirement evolves.
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Old 06-01-2019, 08:53 PM
Location: RVA
2,163 posts, read 1,264,175 times
Reputation: 4451
Originally Posted by matisse12 View Post
Just wondering if you (and perhaps some of the other 19) who were offered buy-out packages were offered the buy-out packages to push you out of the workplace and move you out for various reasons (age? lack of certain new expertise? not just high paychecks?), and if the strong incentives were to strongly persuade you (and others) to leave the workplace? (sorry, if that is delicate)

(I was responding to one of your long recent posts in another thread which contained a lot of angst and heavy trepidation about impending retirement - something which a lot of people do not experience - but, of course, a few or some do. And some of your mixed feelings seemed to be about being pushed out of the workplace by being offered a strong incentive package, along with wondering what to do without a daily job to go to)
Nope. None of those things you imagine. And not delicate at all. I have a thicker skin than most here, though I tire of some of the self righteousness. I could easily have stayed in to my 70s. Some of the 20 are 70. And as mentioned, at 61, I am one of the youngest. Plenty of much older eligible employees decided not to take the package. Their reasons are often financial gain and “just not ready”. None really couldn’t afford not to take it, but either hope for more advancement, (thanks to the something like 1700 people leaving), or prefer the comfort of the known.

I’m sorry if my long posts offend you, as no doubt this one will, too. You’ve mentioned it multiple times. I imagine it may be annoying to some, similar to people that post often, posts that contribute nothing except to state the opposite in order to be contrary and stir the pot.

Like many companies, pension annuities are expensive legacies that no longer fit the current bottom line philosophies of today’s business model. This is nothing new. My company had rather generous pensions that ended for employees hired post 2008. The more people that they can get to take their pensions earlier, the lower their less predictable liabilities are. The current pension, which was fully company funded, along with a generous retiree medical and lifetime supplemental stipends, is over 100% funded and on the order of $5B in size. They would love to finalize those costs, and eventually divest themselves of those liabilities (typical lump sum offers) and fortify their position to the shareholders.

It also made no attempt to color the fact that they want a more diverse and younger image, (as do most all companies) in order to attract new and less expensive talent that has practically no interest in a business seen as old and certainly not sexy. (the irony of which was not lost on us, that almost all of management is the same old white dudes with a few token women and execs of color thrown in, making these decisions).

As far as my “angst and heavy trepidation” regarding retirement, now it is you reading in to others posts and thinly veiled displeasure at support for that OPs point of view, which I and others, but not you, found quite valid. I have oft stated my anticipated retirement, but perhaps am less one dimensional about the obvious trade to the next phase of life. I make no bones about not wanting to get older, marching towards the inevitable end, even though I know there is no real choice.

Last edited by Perryinva; 06-01-2019 at 09:14 PM..
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Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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