Nothing new, but I am tired of dealing with this failing company, the layoffs of good employees, etc... so I'm looking for a new job at a growing company. I just want to make sure that I receive my LTI, deferred comp, pension credit, and 401k credit. Will working through 12/31 suffice or is it 2/28/26? Thanks!
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@k0 I retired near the end of January of this year, being willing to give up my bonus to save my mental health. Surprisingly, I did get my bonus - paid out at the end of February - completely unexpected based on how we were being treated by management prior to my retirement. I had always been told that you did have to be employed at the time the bonus was paid out, but maybe it is different if you retire vs. quitting?
For most people, severance is 3 months - have to consider peace of mine, only live once, just getting older wasting away in a place you don't like, versus 3 months of severance.
I long decided I won't get what little youth I have left and take a pass on the severance
I see no advantage to announcing retirement because that makes you intelligible for severance.
People of retirement age are more likely to be “on the list”
Months of pay falling from the sky when you are ready to retire is a great thing.
Worse case, they pip you and you get 6 months of unemployment.
Yes, in MN, if you get fired for incompetence, you get unemployment and raise the bank’s experience rating!
The reason why April is popular to leave is to give the 90 days notice for retirement on January 1st to leave April 1st. This allow all the bonuses to be paid out and all retirement funds transferred on time by April.
When I first started at the bank a bunch of people left in April. They called it the Spring Spring.
If you are planning to quit, you need to still be employed on the date the 401K match, annual cash contribution to pension, and bonus items get paid out or contributed to your accounts in order to receive them. The first 2 items are in late Jan (check your account activity from Jan 2025 and you will see when the activity posts). The annual bonus in 2025 was paid out on 2/28. It could be early March depending on the payroll calendar. LTI depends on your circumstances (it can vary with certain combinations of age and years of service). For LTI you can see your upcoming vest dates on Shareworks. Get there via the link on MyHR.
Retirement age people with over 10 year experience had some exceptions in their favor.
I am in this demographic and will take a buyout.
401k changed so now you must be employed on the last business day of the year in order to be eligible to receive the match.
LTI is based on the grant date, which will vary from year to year. Its usually around the beginning of March.
PBP/AIP i think you just need to be employed when the payroll system runs that check, which should be for the pay date of 3/6.
You'd probably want to plan your exit around mid-March.
12/31/2025
Gotta be here latter half of January I recall is when the 401k match and pension processes. Then aip bonuses last payday of Feb.
Pretty sure it’s feb 2026 to get the bonus on your check