So do I have this right:
I’m in AZ
I get my 26 weeks
After that’s done, I can collect unemployment And after that, I can start pension?
IF I do lump sum, do I get it right away or do I have to wait until 65?
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In AZ you have to report severance and they won't pay unemployment until the severance is used up. May be different in other states.
Yeah, I finished severance some weeks ago. Decided to delay my pension so I can ride the un-employment pony. I get more money there than my pension, with the feds kicking in 600 in addition to the state every week.
Depending on what state you live in, you can collect unemployment concurrently with severance. If allowed, like in Florida, grab all the $$ you can as soon as you can and do NOT accept the BS from HR that you "must" wait to file unemployment. The fewer people tapping unemployment from Honeywell, the lower their tax rate is for paying into the system. Make them pay.
After severance ceases, you can apply for pension. Depending on which company you were working for when you hired in, you may be eligible for accelerated benefits when taking the Annuity. It is called Income Leveling... but I retired at 57, and had my pension frontload early years' $$. What happens, is the company then reduces pension payout by the amount that Social Security pays when you tap into that. It has provided me with a nice income stream very early early in retirement and have other cash flows to tap into when it drops.
Good luck to you
As long as you are vetted in the retirement system and no longer working at HW you can apply for retirement benefits. It usually take 30-60 days for the process to conclude. Please remember that if you take a lump sum you will need to roll that over into and IRA or else pay the taxes on it.
You don't have to wait until you're 65. My husband is in the process of doing his now, and he is 62.