Author Topic: "Filing" for retirement  (Read 2752 times)

herbgeek

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"Filing" for retirement
« on: January 27, 2019, 09:31:28 AM »
I've seen a number of posts of people saying they "filed" for retirement way earlier than they would give notice if going to another job.  Is that because you are expecting a pension?   Since my company does not offer any pension, I plan to give two weeks notice in May like I would if I was taking a new job.  Am I missing something?  Why file early?

crispy

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Re: "Filing" for retirement
« Reply #1 on: January 27, 2019, 10:49:42 AM »
I work in state government, and it is recommended that you file paperwork at least three months before the actual retirement date so that everything is processed and the monthly pension payment starts when needed. Plus, unpaid annual leave can be paid out in a lump some or the employee can choose to take the leave and then start the pension (we have employees who literally have months of leave that they run out). Unused sick time is added as service credits so all of that has to be calculated as well. All that to say, it is a process that takes some time.

Zikoris

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Re: "Filing" for retirement
« Reply #2 on: January 27, 2019, 11:08:57 AM »
I think it's more of a courtesy to your employer, particularly if you like the people and enjoyed your time there. It can just make things a lot easier for them if they have time to hire someone and also have you train the person prior to leaving. And you have the ability to do that with retirement, because you don't have another company needing you to start working as soon as you can. I personally quite like my work and coworkers, and I would probably give months of notice for retirement because I would want everything to go as smoothly for them as possible.

Certainly there are workplaces where this doesn't make sense - I've heard stories of some places escorting people out on the spot when they give notice, or do other things that make people's lives miserable during their notice period. Also, if a place was pretty toxic or you hated everyone, I could see waiting until the last second. At my last job I gave three days notice, but that was more due to weird circumstances (I got hired by the new place right before I was leaving on an overseas vacation that had been booked far in advance) than any malice.

soccerluvof4

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Re: "Filing" for retirement
« Reply #3 on: January 28, 2019, 04:57:09 AM »
I think it's more of a courtesy to your employer, particularly if you like the people and enjoyed your time there. It can just make things a lot easier for them if they have time to hire someone and also have you train the person prior to leaving. And you have the ability to do that with retirement, because you don't have another company needing you to start working as soon as you can. I personally quite like my work and coworkers, and I would probably give months of notice for retirement because I would want everything to go as smoothly for them as possible.

Certainly there are workplaces where this doesn't make sense - I've heard stories of some places escorting people out on the spot when they give notice, or do other things that make people's lives miserable during their notice period. Also, if a place was pretty toxic or you hated everyone, I could see waiting until the last second. At my last job I gave three days notice, but that was more due to weird circumstances (I got hired by the new place right before I was leaving on an overseas vacation that had been booked far in advance) than any malice.








When I had my business we had to escort people out of the business because there was just to much information to be stolen and could start there own business. Now granted they could of started long before preparing but still had to do what you could. No malice on our part or were ever mean to people if they felt they could improve there way of life BUT not at our expense either.  Thats why alot of companies do it as well as moral and other issues. 

herbgeek

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Re: "Filing" for retirement
« Reply #4 on: January 28, 2019, 05:46:37 AM »
Quote
I've heard stories of some places escorting people out on the spot when they give notice,

I've seen my company and other previous companies do this for selected people.  This is why I'm hesitant to give any  more notice than 2 weeks.

pecunia

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Re: "Filing" for retirement
« Reply #5 on: January 28, 2019, 05:58:33 AM »
Quote
I've heard stories of some places escorting people out on the spot when they give notice,

I've seen my company and other previous companies do this for selected people.  This is why I'm hesitant to give any  more notice than 2 weeks.

Escorting people out on the spot.  I'll bet their HR people would follow this up with a statement of how they "valued" their employees. 

Imma

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Re: "Filing" for retirement
« Reply #6 on: January 28, 2019, 06:21:12 AM »
Quote
I've heard stories of some places escorting people out on the spot when they give notice,

I've seen my company and other previous companies do this for selected people.  This is why I'm hesitant to give any  more notice than 2 weeks.

Escorting people out on the spot.  I'll bet their HR people would follow this up with a statement of how they "valued" their employees.

Yeah, I had that happen to me as well. And I worked for another company that did it with some of their employees after telling them their contract wasn't going to be renewed (only for consultants, I was just an admin there) .

I know and understand why some companies do it, and at least in my country they'll have to pay you in full until the actual date your contract ends so it's basically a paid vacation, but I do think it harms the company's reputation. I'd never work with either of them again in any way. It's extremely humiliating to have to gather your personal belongings from your desk, stuff in them in your bag and leave the building while the whole floor is watching and none of your coworkers dare to speak to you because the big boss is escorting you out. It makes you feel like a criminal even when you're the one who quit.

dude

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Re: "Filing" for retirement
« Reply #7 on: January 28, 2019, 06:25:14 AM »
I work in state government, and it is recommended that you file paperwork at least three months before the actual retirement date so that everything is processed and the monthly pension payment starts when needed. Plus, unpaid annual leave can be paid out in a lump some or the employee can choose to take the leave and then start the pension (we have employees who literally have months of leave that they run out). Unused sick time is added as service credits so all of that has to be calculated as well. All that to say, it is a process that takes some time.

Ditto for me at the federal level.

patrickza

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Re: "Filing" for retirement
« Reply #8 on: January 28, 2019, 06:56:51 AM »
I plan to give a very long notice, mostly because I don't work for an evil megacorp and wouldn't like to see them struggle to try replace me with very little notice.

Raenia

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Re: "Filing" for retirement
« Reply #9 on: January 28, 2019, 07:19:54 AM »
Quote
I've heard stories of some places escorting people out on the spot when they give notice,

I've seen my company and other previous companies do this for selected people.  This is why I'm hesitant to give any  more notice than 2 weeks.

My company also does this for selected people - but in the only case I saw, I felt it was entirely justified.  The person had been working for us only 1 month, barely finished the training period (so had cost the company a lot of money and time with no value paid back yet), gave notice via email after leaving work the Friday before leaving for a week vacation (managing to game the PTO system to get paid vacation for it), and expected to come back to work out the last week of the 'two week notice' period.  Yeah, no.  They were told to come back in to collect their things and turn in their badge and computer, and then were walked back out.

I have seen plenty of other people retire or leave for a new job, and work out their notice period very cordially.

ericrugiero

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Re: "Filing" for retirement
« Reply #10 on: January 28, 2019, 08:11:46 AM »
Ideally, I would let them know in advance so they could plan for my replacement.  But, I wouldn't tell them until I felt comfortable that even if they did walk me out immediately I would be in good shape financially. 

Of course, if you don't care about the company, co-workers, etc there would be no reason to give them notice.  I can't imagine a situation where I wouldn't feel loyalty to at least some of my co-workers and most likely the company as well. 

Not telling them early enough would mean that retirement checks wouldn't come immediately.  But, if you can't afford to wait a few months for a check you can't afford to retire. 

Zikoris

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Re: "Filing" for retirement
« Reply #11 on: January 28, 2019, 08:58:53 AM »
I think it's more of a courtesy to your employer, particularly if you like the people and enjoyed your time there. It can just make things a lot easier for them if they have time to hire someone and also have you train the person prior to leaving. And you have the ability to do that with retirement, because you don't have another company needing you to start working as soon as you can. I personally quite like my work and coworkers, and I would probably give months of notice for retirement because I would want everything to go as smoothly for them as possible.

Certainly there are workplaces where this doesn't make sense - I've heard stories of some places escorting people out on the spot when they give notice, or do other things that make people's lives miserable during their notice period. Also, if a place was pretty toxic or you hated everyone, I could see waiting until the last second. At my last job I gave three days notice, but that was more due to weird circumstances (I got hired by the new place right before I was leaving on an overseas vacation that had been booked far in advance) than any malice.

When I had my business we had to escort people out of the business because there was just to much information to be stolen and could start there own business. Now granted they could of started long before preparing but still had to do what you could. No malice on our part or were ever mean to people if they felt they could improve there way of life BUT not at our expense either.  Thats why alot of companies do it as well as moral and other issues.

And I don't think there's anything wrong with this, but the obvious downside is that people would quit with little/no notice, which would cause its own set of problems. Guaranteed if I worked for a company that did that, I would not give any notice if I quit.

pecunia

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Re: "Filing" for retirement
« Reply #12 on: January 28, 2019, 06:26:27 PM »
I gave a good notice to a place and quit.  I used to work with this older fellow who was somewhat of a character.  I called the place from the new job to see how things were going.  I hadn't burnt bridges.  I was told the older guy was not there.  He didn't quit.  He just stopped showing up.  He had FU money.

I didn't particularly like the management in that place.  The rebel in me thought it was kind of cool, a good way to stick it to them.  I know it was a bad attitude, but shared by many.

Linea_Norway

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Re: "Filing" for retirement
« Reply #13 on: January 29, 2019, 05:35:07 AM »
I have heard of people being transported out of the building when they quit to work at a competitor. As we have a 3 full month period to resign, they get paid to sit at home for 3 months.

I have seen that losing your security clearance lead to a similar scenario at my current employer. Normal people who quit were at work until their last days.

Rural

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Re: "Filing" for retirement
« Reply #14 on: January 29, 2019, 08:14:01 AM »
I've never understood what companies think they can accomplish by escorting people who quit out. Firings, yes, but someone who is going to quit and who wants to steal info can just copy it all and take it home the day before giving notice.

rantk81

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Re: "Filing" for retirement
« Reply #15 on: January 29, 2019, 09:21:51 AM »
A couple years back, a "high level employee" took a lot of confidential info with them, before they quit to work for a competitor.  There was some big lawsuit eventually.

The result for the rank-and-file employees and our productivity has been kind of devastating.  Word came down from high-level management that the IT/NetworkSec team(s) needed to install a bunch of stuff on all workstations (even developer workstations) to monitor everything.  There are probably no less than about 20 things in my windows task manager for "Endpoint Protection" and "DLP Protection" and such. There's now whole-drive encryption. They force any removable storage device to be encrypted too, and anything copied off via removable storage will generate an email to your boss to "verify" that there was a "Business need" for copying those files to storage. They've forced man-in-the-middle certificates on all the browsers, so they have access to (and probably log/store) any online activity.  Anything that causes a moderate level of disk i/o is frustratingly slow. Software builds that used to take 10 mins or so, can now take almost an hour.  Machines lock up for seconds at a time when trying to do something simple like saving the document you are working on. It's a very frustrating productivity drain.  It gets to me a lot... but every once in a while when this is happening, just slouch back in my seat and try to take solace in the fact that I'm getting paid anyway, even if my time is spent waiting for all the IT Spyware on my workstation to do whatever it wants to.  I am way way less productive than I used to be.  Some projects checked out from source control are on the order of 5-10GB in size. Those now take quite a long time to check out, due to all of the additional scanning/monitoring/"endpoint-protecting" software running constantly.

Since this started happening, I do absolutely ZERO personal stuff from the company computers and network.  Any personal thing that comes up (needing to make a last minute bank transfer, deal with a personal urgent email, etc.) I do from my smart phone. I do not even use the corporate wifi for my phone... I use the cellular network exclusively, even though I pay per megabyte.

pecunia

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Re: "Filing" for retirement
« Reply #16 on: January 29, 2019, 12:36:52 PM »
A couple years back, a "high level employee" took a lot of confidential info with them, before they quit to work for a competitor.  There was some big lawsuit eventually.

The result for the rank-and-file employees and our productivity has been kind of devastating.  Word came down from high-level management that the IT/NetworkSec team(s) needed to install a bunch of stuff on all workstations (even developer workstations) to monitor everything.  There are probably no less than about 20 things in my windows task manager for "Endpoint Protection" and "DLP Protection" and such. There's now whole-drive encryption. They force any removable storage device to be encrypted too, and anything copied off via removable storage will generate an email to your boss to "verify" that there was a "Business need" for copying those files to storage. They've forced man-in-the-middle certificates on all the browsers, so they have access to (and probably log/store) any online activity.  Anything that causes a moderate level of disk i/o is frustratingly slow. Software builds that used to take 10 mins or so, can now take almost an hour.  Machines lock up for seconds at a time when trying to do something simple like saving the document you are working on. It's a very frustrating productivity drain.  It gets to me a lot... but every once in a while when this is happening, just slouch back in my seat and try to take solace in the fact that I'm getting paid anyway, even if my time is spent waiting for all the IT Spyware on my workstation to do whatever it wants to.  I am way way less productive than I used to be.  Some projects checked out from source control are on the order of 5-10GB in size. Those now take quite a long time to check out, due to all of the additional scanning/monitoring/"endpoint-protecting" software running constantly.

Since this started happening, I do absolutely ZERO personal stuff from the company computers and network.  Any personal thing that comes up (needing to make a last minute bank transfer, deal with a personal urgent email, etc.) I do from my smart phone. I do not even use the corporate wifi for my phone... I use the cellular network exclusively, even though I pay per megabyte.

Sounds like a great opportunity for some middle manager to outsource the work to a contractor who doesn't have to deal with all of that.  He could simply get numbers on what an "in house" project cost versus "outsourcing" cost.  The smart contractor would then hire away good employers like yourself who do want to produce.

herbgeek

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Re: "Filing" for retirement
« Reply #17 on: January 29, 2019, 12:55:11 PM »
Quote
Not telling them early enough would mean that retirement checks wouldn't come immediately.

In my case, there's no check (other than last paycheck).  I was curious about why people might give a long notice period, if they didn't have to for pension reasons.  I've also been told that my particular job title will not be replaced  (all the others who had it were either laid off or left, I am the last remaining one with my job title, and the only reason they keep me around is because I do stuff in addition to my job title that they find useful).  They won't be replacing me, so I see no need for anything other than standard 2 week notice.  I really don't even need to do that since I don't plan on working again, I'm doing it for my own need to be "professional".

Curmudgeon

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Re: "Filing" for retirement
« Reply #18 on: January 29, 2019, 01:24:11 PM »
I got laid off from Megacorp 5 weeks before the date I was eligible to retire.  Date was based on age + years service, so of course HR new what it was.  Laying me off saved them a bunch of $$ if I had taken retirement.

No way would I let an employer know ahead of time when I was planning to retire.

iris lily

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Re: "Filing" for retirement
« Reply #19 on: January 29, 2019, 01:38:13 PM »
I told my boss three months before my retirement date. Even then she waited until the last three days of my work to appoint a temp person to cover my dities,  write a job description for my position, and etc. I knew it would be last minute work on her part regardless of when I told her. Some pEople at my level announced a year in advance. personally, I found that to be a little, uh, self important. And I saw that backfire more than once when the person became a lame duck and people,started going around them to the next perceived head honcho.

This last minute decision making  on the part of my boss was stressful l for my employees because I couldnt tell them “when I am gone, go to X person for this and Y for that, and here is this large task let me tell you how to doit”  but I did remind them that if I had dropped dead suddenly, they would work thru chain of command for major stuff and it would all be fine.
« Last Edit: January 29, 2019, 01:41:45 PM by iris lily »

terran

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Re: "Filing" for retirement
« Reply #20 on: January 29, 2019, 02:38:06 PM »
I've also been told that my particular job title will not be replaced  (all the others who had it were either laid off or left, I am the last remaining one with my job title, and the only reason they keep me around is because I do stuff in addition to my job title that they find useful).  They won't be replacing me, so I see no need for anything other than standard 2 week notice.

In that case, have you considered trying to engineer your own layoff? If they kind of want to eliminate your position anyway they might take you up on it if you offered to alleviate any guilt they might have over laying you off in return for some kind of incentive.

Imma

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Re: "Filing" for retirement
« Reply #21 on: February 04, 2019, 06:12:23 AM »

The result for the rank-and-file employees and our productivity has been kind of devastating.  Word came down from high-level management that the IT/NetworkSec team(s) needed to install a bunch of stuff on all workstations (even developer workstations) to monitor everything.  There are probably no less than about 20 things in my windows task manager for "Endpoint Protection" and "DLP Protection" and such. There's now whole-drive encryption. They force any removable storage device to be encrypted too, and anything copied off via removable storage will generate an email to your boss to "verify" that there was a "Business need" for copying those files to storage. They've forced man-in-the-middle certificates on all the browsers, so they have access to (and probably log/store) any online activity. Anything that causes a moderate level of disk i/o is frustratingly slow. Software builds that used to take 10 mins or so, can now take almost an hour.  Machines lock up for seconds at a time when trying to do something simple like saving the document you are working on. It's a very frustrating productivity drain.  It gets to me a lot... but every once in a while when this is happening, just slouch back in my seat and try to take solace in the fact that I'm getting paid anyway, even if my time is spent waiting for all the IT Spyware on my workstation to do whatever it wants to.  I am way way less productive than I used to be.  Some projects checked out from source control are on the order of 5-10GB in size. Those now take quite a long time to check out, due to all of the additional scanning/monitoring/"endpoint-protecting" software running constantly.


Is this even legal? It wouldn't be in my country - they'd have to tell you exactly what they're logging/storing.

I don't do anything personal on work computers either, just to be certain (and there's no need when we're all carrying a mini computer around in our pocket anyway) but I know the company wouldn't be able to use any kind of data from my computer in a (civil) court of law. They would only be allowed to access those data if the police got involved.

iris lily

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Re: "Filing" for retirement
« Reply #22 on: February 04, 2019, 07:07:48 AM »

The result for the rank-and-file employees and our productivity has been kind of devastating.  Word came down from high-level management that the IT/NetworkSec team(s) needed to install a bunch of stuff on all workstations (even developer workstations) to monitor everything.  There are probably no less than about 20 things in my windows task manager for "Endpoint Protection" and "DLP Protection" and such. There's now whole-drive encryption. They force any removable storage device to be encrypted too, and anything copied off via removable storage will generate an email to your boss to "verify" that there was a "Business need" for copying those files to storage. They've forced man-in-the-middle certificates on all the browsers, so they have access to (and probably log/store) any online activity. Anything that causes a moderate level of disk i/o is frustratingly slow. Software builds that used to take 10 mins or so, can now take almost an hour.  Machines lock up for seconds at a time when trying to do something simple like saving the document you are working on. It's a very frustrating productivity drain.  It gets to me a lot... but every once in a while when this is happening, just slouch back in my seat and try to take solace in the fact that I'm getting paid anyway, even if my time is spent waiting for all the IT Spyware on my workstation to do whatever it wants to.  I am way way less productive than I used to be.  Some projects checked out from source control are on the order of 5-10GB in size. Those now take quite a long time to check out, due to all of the additional scanning/monitoring/"endpoint-protecting" software running constantly.


Is this even legal? It wouldn't be in my country - they'd have to tell you exactly what they're logging/storing.

I don't do anything personal on work computers either, just to be certain (and there's no need when we're all carrying a mini computer around in our pocket anyway) but I know the company wouldn't be able to use any kind of data from my computer in a (civil) court of law. They would only be allowed to access those data if the police got involved.
The computer belong to the company. Any work perfomed on them belongs to the company. There is no “personal” work done on the company’s equipment.

rantk81

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Re: "Filing" for retirement
« Reply #23 on: February 04, 2019, 08:01:00 AM »

Is this even legal? It wouldn't be in my country - they'd have to tell you exactly what they're logging/storing.

I don't do anything personal on work computers either, just to be certain (and there's no need when we're all carrying a mini computer around in our pocket anyway) but I know the company wouldn't be able to use any kind of data from my computer in a (civil) court of law. They would only be allowed to access those data if the police got involved.
The computer belong to the company. Any work perfomed on them belongs to the company. There is no “personal” work done on the company’s equipment.
Yep. It's their equipment, their network connection. They can do whatever the heck they want.  I do absolutely zero personal stuff from a work computer, and zero personal stuff from a work network/internet connection (unless it is my own equipment, and I am using my own personal VPN.)

cats

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Re: "Filing" for retirement
« Reply #24 on: February 04, 2019, 09:32:41 AM »
At my place, three months is needed to make sure pension processes on time.  However, you only have to tell HR, you don't have to tell your manager.  My particular position is unionized so I believe it would be quite difficult to fire someone simply for intending to retire.  We once had a guy who was quite disgruntled and he filed for retirement but didn't tell anyone outside of HR until 2 weeks before his retirement date, which conveniently coincided with our boss having 2 weeks of vacation scheduled.  Handing over of his responsibilities was therefore pretty abrupt.  TBH, while none of us were thrilled with him at the time, it also was not a huge deal.  It was a good reminder to me that I'm not indispensable.

That said, I probably won't give a huge long lead time when I leave my current job, if all goes according to plan and I leave within the next year or so.  I'll be <40 and saying I'm leaving to "retire"....I have no interest in getting weird or awkward questions.  Also, I will be too young to immediately start drawing a pension (I got switched over to a cash balance plan a while back anyway so the defined benefits amount I am eligible for when I hit 55 is pretty minor), so no real incentive there. 

Cassie

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Re: "Filing" for retirement
« Reply #25 on: February 04, 2019, 10:46:24 AM »
I retired from the state and only gave a 2 week notice. No problem getting pension, etc.  My state can’t hire anyone for awhile after the position is empty.

nancyjnelson

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Re: "Filing" for retirement
« Reply #26 on: February 07, 2019, 02:18:01 AM »
I filed for retirement a year before leaving.  This was not unusual at my federal government agency because routine onward assignments needed to be made a year in advance.  Had I waited until only a month or two prior to retirement, it would have been a burden to our personnel system and likely caused a couple of positions to go unfilled for several months.

Funny thing, once I put in my papers it changed how I worked.  I no longer left criticisms unvoiced (I was still polite about things, of course) nor held back questions.  In fact, I became a much more valuable employee for my office.  And it was fun.  I regret having censored myself for so long.  Censorship that, in the end, wasn't needed.

CoffeeR

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Re: "Filing" for retirement
« Reply #27 on: February 07, 2019, 07:51:21 AM »
In state jobs and/or academic type jobs it is not unusual and even expected that you give many months notice. If you are a tenured professor at a research university (I am not) and leave suddenly without notice it might be held against you when seeking employment years later at other universities. Not that this does not happen, but it can negatively impact your career in the same field. I have never seen anyone get let go instantly because they gave notice. Of course sudden cutoffs can happen if you are being let go (you are not initiating the termination), but even in those cases there are generally mitigating or special circumstances. The issue of giving notice (or not) is very company/organization/job specific.

Filing for retirement is not just related to pensions, it can impact benefits. You may not receive or qualify for retirement benefits until you "file" for retirement. Interestingly, in some jobs you can resign, leave and file for retirement months or even years after you left your job in order to get retirement benefits.
« Last Edit: February 08, 2019, 08:01:00 PM by CoffeeR »

Arbitrage

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Re: "Filing" for retirement
« Reply #28 on: February 07, 2019, 08:44:55 AM »
At my place of work, filing for retirement is related to the pension.  Voluntary termination notice is different.  When I FIRE, I won't file for retirement, since I won't be eligible for pension distributions.  I'll have to do that at some later date (likely around when I'm turning 65 if all goes according to plan). 

jim555

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Re: "Filing" for retirement
« Reply #29 on: February 07, 2019, 08:51:04 AM »
Escorting people out on the spot.  I'll bet their HR people would follow this up with a statement of how they "valued" their employees.
I got escorted out.  Huge smile on my face.

PDXTabs

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Re: "Filing" for retirement
« Reply #30 on: February 07, 2019, 07:43:40 PM »
Quote
I've heard stories of some places escorting people out on the spot when they give notice,

I've seen my company and other previous companies do this for selected people.  This is why I'm hesitant to give any  more notice than 2 weeks.

I worked for a Dow component that would do this if they thought that you were going to a competitor.

markbike528CBX

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Re: "Filing" for retirement
« Reply #31 on: February 07, 2019, 10:52:54 PM »
The thread
https://forum.mrmoneymustache.com/post-fire/when-you-retired-early-how-did-you-resign/
shows how early-retired persons handled it.

My suggestion: 2 weeks max unless required by law (some countries require 3 to 6 months.

Pension-age retirement might be longer, but as some one said that if you can't wait for the retirement check, you probably shouldn't be retiring.

The Onion suggests a smaller notice.
http://www.theonion.com/articles/health-experts-recommend-standing-up-at-desk-leavi,37957/

MM_MG

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Re: "Filing" for retirement
« Reply #32 on: February 07, 2019, 10:57:52 PM »
I've never understood what companies think they can accomplish by escorting people who quit out. Firings, yes, but someone who is going to quit and who wants to steal info can just copy it all and take it home the day before giving notice.

^this.

Corporate mentality at it's finest.

My view...

1) be prepared to walk out (or be walked out) the day you give notice
2) plan for no more than 2 weeks, and burn whatever sick time you have that is not paid out before leaving
3) know that anything more is simply a matter of negotiation

Linea_Norway

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Re: "Filing" for retirement
« Reply #33 on: February 08, 2019, 12:12:40 AM »
And make sure your company pays out whatever they own you in a lump sum at the time you leave. Like where I live, they can pay you your vacation money in the summer the year after. But you'd better get it paid immediately to be sure your company doesn't disappear during the waiting time.

From this site I've learned that an amount of the Americans have their pension invested in their employer. It is advised to also have that paid out in a lump sum if that is possible and then invest it yourself. Then it is more secure.

nemesis

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Re: "Filing" for retirement
« Reply #34 on: February 27, 2019, 01:58:57 AM »
I got laid off from Megacorp 5 weeks before the date I was eligible to retire.  Date was based on age + years service, so of course HR new what it was.  Laying me off saved them a bunch of $$ if I had taken retirement.

No way would I let an employer know ahead of time when I was planning to retire.
Did you file a lawsuit or complain to the labor board? You could have gotten some settlement.

This is why I don't like 1) working for large mega corps, and 2) be too loyal to any one company.  I will switch jobs if it's to my advantage and not feel a single bit of guilt.