Don’t think I can wait for another VBO. I’m crazy for not taking it last year. Meeting with HR to talk discuss retirement. Does anyone know if retirees get any payout other than bonus and pro-rates shares. Someone mentioned a retirement payout, but I have no idea what that is. Thanks!
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Not clear from the comments. Is there an early retirement payout available (non vbo) or do you need to be at select level?
thank you for posting. I'm 50yrs old, I will qualify for the 'rule of 70' if there is a buyout 2 years from now (plus one month but who's counting the details).... I'm taking that buyout if it happens but it is nice to know that if I don't get a buyout I can stick around for 2 1/4 years after and still get a "buyout" no matter what. thank you!
Take or leave it...the best day to retire is after working the first day of the year. That way you will get another 3k in your RHRP.
Congrats! Life is great on the other side:)
** Update ** Talked to HR about retiring and the retirement package includes 3 weeks per year and health insurance. I'm very happy and now retiring in September.
There is a retirement payout but you have to be over 55.
HR will cover this for you. If you are eligible for retirement, age and service years there is a retirement medical plan. It is not the same medical plan offered under VBO which is the normal plan subsidized for two years than full price thereafter. The retirement medical is for those retired between 55-65 with no subsidy and higher rates due to ages of parts.
Most early retirement offers include a severance package that is based on your annual salary and years of service at the company. For example, your employer might offer you one or two weeks' salary (or even a month's salary) for each year of service.
A "retirement payout" is for a select group, I was friends with someone fortunate enough to benefit from it, but he was the real deal and deserved it; best mentor I have ever had at Fido. If you are on this site I doubt you are in that group, not looking to be harsh, but you would know. Not sure where you are at in your decision, but four months shy of bonus and profit sharing payouts, wait till 2023. I'll assume you are mentally exhausted with the place, I was too, hang in till 2023 then vanish...good luck, take care of yourself.
It's the same as quitting. No payout, no watch, no perk points, no redemption of monies on you lunch card - hand in your badge and laptop and get in your car and leave.
Wrestle with your decision the next morning but soon thereafter you will be whole again and have a better perspective of life , while the rest of us admire your move as we consider the same.
All the best!