55 and 10 years here with 5 weeks of PTO banked (thank you California). Just need to find a good new job to retire to. Of course, a severance package would be more $.
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Who cares what your peers think? They don't need to know if its a retirement or resignation
I quit last summer 11 months before being retirement eligible. I specifically called it a notice of retirement. WF treats is as resignation in the system BUT the communication piece to your peers is announced as a retirement. Make a big difference.
That's pretty awesome, I didn't know that. Thanks for posting. I guess December 1 will become the cool new 'last day' (gotta sell back 12 months worth of PTO!).
@two+1bRNxicg if you meet retirement criteria you get the 401k match. Also if you bank here (why is another question) you keep your employee free checking and lower credit card interest rate.
Congratulations
It'd be worth it to kick around until 12/31 to get the 401k match. I doubt you'd get termed for not going to the office. Just take timely PTO and personal holidays and kick the can down the road. You're retiring anyway, what's a couple of warnings ahead of time?
How fo you know the OP is bonus eligible?
Wait it out till February and get your bonus
What is the difference between telling them you are retiring versus telling them you are offering a resignation (for retirement)?
If you have 10 years of service and are 55 years old or more, you can retire. Or if your age and years of service add up to 80, that works too.
"be sure to put in a retirement notice, not just a termination notice."
I think they require 60-65 or something for that, I'm below that so it would just be a resignation, not considered retirement to WF
Congrats. Time to hold and time to fold
If you really intend to not go back, I'd start ramping it down now. Make up for the lack of 401k match. if it doesn't look like you will be laid off, be sure to put in a retirement notice, not just a termination notice. Lastly, ENJOY the he!! out of not being there come September.
I was displaced 2 months ago at 63 1/2 with 31 years tenure. I realize how lucky I am and feel blessed. I couldn't handle the woke ness and managers who had to hit head count numbers and are totally working in fear. I was miserable but the new 3 wood I bought seems to be cheering me up. Best to everyone but the place is terribly toxic.
If you leave before the end of December you lose out on employee 401k match (unless you are 65).
I have 5 more years! Happy Retirement to you!!
Wishing you a great retirement.
If you’re lucky, maybe they’ll lay you off before you have to go back. Then you can get your 60 days and coast your way to retirement on severance until January. Fingers crossed for you!