Do folks have any tips or strategies on preparation and the tactical steps when giving notice?
18 replies (most recent on top)
Also, use all your floating holidays, sick, any accrued vacation, etc. If you make charitable donations, use the community impact portal to get a match for your charity.
If you ae older, remember that if you have 5 years of service and you're at least 60, they have to give you your 401K match no matter what.
@g6 Found some more details
If hired prior to 12/31/2020, matches are fully vested.
If after 12/31/2020, matches are on 3 yr vesting schedule.
Health plan docs also indicate health insurance ends last day of the month in which your employment terminates. So your last day is on 1st, you have coverage thru end of month.
@f6 company contributions have a vesting schedule.
The money in your 401k and HSA is your money. There are no restrictions.
Check the policy on when health coverage ends. At a prior company, it extended to end of the month meaning I had coverage through the 31st even though I resigned on the 1st.
Also, I don’t think you’re legally obligated to give any notice although there are other potential negative impacts.
Take every day you have accrued.
If they tell you, you can’t as they did with me, take them anyhow.
Don’t go into the office again, other than to turn in your computer
Blast them in the exit document to make sure you never end up working at that sh-t hole again - sometimes time away the starts your memory of how bad things are
Stop complying with office days and take it easy for a month before you hand in notice.
Also, take a dump in your manager’s office drawer on your last day. That’s very important to leave a surprise gift on your way out.
If you dont like your manager resign on Thursday night or Friday morning to ruin his/her weekend.
Use all your allotted days like vacation, care giver, volunteer, sick time. Then give your notice. I don’t think many will bother you during the mandatory 30 days. WFH and relax before your next gig. You mostly likey deserve it.
Use your ten caregiver days before you give notice.
If you have a self directed account in your 401k you may want to sell it all and transfer it back to the Voya account for ease of transferring it out to an IRA. First hand experience about 10 years ago.
@a3 best post in this thread.
@ak
On the 401K balance… No.
You can definitely move it out of Voya. I did.
You arent locked in that for life. No way.
And @ag if you have / set up a traditional IRA with a qualified institution like Fidelity, you can roll your money over and have it as a tax free event where it goes to the institution with you listed as a beneficiary. You do not want the money coming to you directly.
@ak
Wrong. Of course you can move your money out or VOYA. I did. You arent locked into VOYA for life.
@ag
All you need is a traditional IRA with a qualified institution. And thats another thing,
You need to have paper work and make sure this is done as a tax free event.
Re HSA card balance, one carries HSA money regardless employment status. Another sure way is getting reimbursement for the current balance. Residual benefits such as RSUs and ESOP balance have same nature. Re 401K, extremely unlikely one can move it out of Voya. I could not even withdraw ROTH IRA money. I may add get all check ups, refill any medications as much as you can.
@a3 Curious How can one start a rollover until one is terminated and removed from an active employee status? Please explain.
@OP make sure you wait as long as possible to get within 2 1/2 weeks of your last day. F all that stuff about 1 month or more if you are an officer of this creep show. 2 weeks notice is legally all you are required to do. Between now and then, get home access to all your accounts with Voya and alight. Call Voya and start the ball rolling on getting any 401k and other benefits rolled over. Any commuter benefits with money get it stopped off your payroll deduction and also roll any balances or get debit cards with the money or you will lose it. Use all your vacation and personal time pronto as you will not be paid for it. Any HSA cards? Spend it down or get it rolled over. As you get charged to maintain it after you are out the door. Do not bad mouth the place or the people while you are uprooting yourself. Last do as little as possible in the last 2 weeks. Do not go to any parties or going away events. Also .. if you are going to be gone, stay gone. Never ever accept or believe a counter offer. They will either pull it away or fire you within 2 months if you stu.pidly agree.