If you are NSI and retiring what is your exit strategy? PIL and retire?, retire and get another job, start taking medical benefits, take the pension now or wait, etc.
Also, what is your mindset now that it’s reality?
6 replies (most recent on top)
They have to pay for unused vacation. Federal law. Doesn't matter quit, retire or PIL.
If it’s true that this year there’s no PIL for REs, according to the HR notice posted on another thread), then there’s no cash for unused vacation either. It’s getting better and better each year - the management has simply declared war on employees.
I thought that the PIL & Retire option wasn’t being offered this year ? That’s what another thread alleged.
As for vacation days and any carry-over …. DON’T USE IT ! The company will compensate you for unused VAC and COV. That’s money in the bank !
I have felt a huge sense of relief since announcing my departure early next month. I'm using the last of my vacation but sticking around to squeeze one last paid holiday out of the ungrateful bast*rds.
I am leaving before the 15 year mark. I spoke with a financial planner at the first of the year and he came back with, "You don't need to go to work tomorrow if you don't want to."
I'll be using COBRA to cover me while I make the transition back to my home state. I'll be transferring my Voya account to another fund that provides more diversity and better returns and I'll be rolling my lump sum pension into that account also. Social Security and Medicare are only a few years out. I'm glad to be closing this miserable chapter in my life.
Everyone has different situation - and retirees can have 15 to 40 years of savings/pension.
One thing for sure - take the lump sum into an IRA.
Get as far from reliance on this company as possible.
I’m retiring and taking a lump sum to roll into Voya but will be getting another job to supplement. Very happy and stress free separating from the grinding machine. I’m glad I had the option and I’m actually glad I was forced out otherwise I would have endured more time in the torture box.