Per the title, if you have or are in the process of retiring from Fidelity and meet the rule of 70, what date did you pick and why? I know to receive your profit sharing and RHR contributions, you need to be an employee as of 12/31. If you have shares and/or bonus eligible, it would likely be pro-rated for every other full quarter. So many retire in the spring and I don’t know if I’m missing something or did you just want warmer weather? 😊 TIA
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Lots of information online. If you are at least 55 and have at least 15 years of service you qualify as “retired” for Fidelity purposes. Leaving Jan 1 means you will get profit sharing and allows another quarter of share vesting. Leaving Jan 2 allows you to have the whole month of January covered by health insurance. No reason to stay beyond that date into the Spring. Each quarter you stay your shares may be further vested (depending on type of shares) and your year end bonus would be pro-rated, funded at 85%.
All of this is online on the HR portal. The only thing not online is the “retiree bonus” which someone already stated as one month pay for every five years of service.
Last I checked - when I stopped working
I’m retiring 12/17. I am 65 years old and meet the rule of 70 for some benefits and for others I do not because they are based on continuous service for FTEs and for five of the eight years I was with Fidelity I was a contractor. I will be getting my bonus and the milestone award. I’m eligible for prorated profit sharing.
age 55 they offer a milestone bonus one month base salary for every 5 years of service up to 6 months. prorated bonus profit sharing. there is information on internal hr website. turned 55 this summer and made the decision to retire and pursue other interests. was hoping for a vbo this year but i think there are too many critical people eligible who did not take the last one.
Don’t think they prorate share or bonus payouts. So end of year makes perfect sense.
you can retire whenever you want. The rule of 70 doesn't apply for retirement. The rule f 70 was used when they did buyouts.
If you are able to retire, you either wait til full retirement age because you need more money, or you retire when you are ready regardless of age.