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Old 04-16-2010, 07:13 PM   #21
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So, today I contacted our compensation department to get some of the details on early retirement without asking about early retirement! Good news is that I qualify for an offical early retirement for a Long Term Incentive Plan that the company has available. It was an age plus years of employement formula. I was hoping for some magic formula on the annual bonus as well, but no luck there. I have to be employees on the day that the bonus is distributed or I get nothing.

Big question now is how much of a notice should I give? I have been employeed for 18 years with this company and in my current position for 3. My staff can continue with the day to day operations, but I handle all of the special projects and these will stop until they find a replacement. I know that 2 weeks is the minimum - but is that enough?
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Old 04-16-2010, 07:17 PM   #22
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Big question now is how much of a notice should I give?
Here are a couple of threads on the subject:

How much notice is enough?
How much advance notice to give?
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Old 04-16-2010, 08:29 PM   #23
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Good news is that I qualify for an offical early retirement for a Long Term Incentive Plan that the company has available.
I wonder how a company equates "early retirement" with "Long Term Incentive Plan". Must be a post-graduate level of businesspeak.

As TM is demonstrating, the only incentive he's planning with his company is pretty short-term...

As for the notice, unless there's a clear advantage to giving notice early (like applying before a deadline) then I'd give the absolute minimum notice required by law. Otherwise you might be ineligible for any last-minute layoffs or other separation "incentives".
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Old 04-16-2010, 09:27 PM   #24
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I agree, do not give notice until absolutely required. Remember, you can be fired at a moment's notice... quit (retire) similarly.
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Old 04-17-2010, 06:05 AM   #25
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Given the situation I think I would gibe notice the day or maybe two after I qualified for the annual bonus then be out of there two weeks later.
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Old 04-17-2010, 07:07 AM   #26
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Great call on the notice time line. If I give notice and they come up with a reason to fire with cause - out goes the annual bonus and the Long term Incentive.

As for the Long Term Incentive- by the end of July, I will meet the 1 year minimum since this program went into effect. I am not full vested until the 2012. So because I qualify for early retirement, I do not lose the years payout. I am glad that I did my homework and do not lose out on the $40k! I have to wait until 2012 for the money, but that's better than nothing!
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Old 04-17-2010, 09:35 AM   #27
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TM, I love the progression in your mood from your first post on this thread. You are going to have no trouble hanging in there til 2012.
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Old 04-17-2010, 10:05 AM   #28
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I spent 12 years working for a jack @ss. Funny how things finally caught up with him. Too many employee complaints - as they leave - for HR to ignore. Burned too many bridges to be promoted. Once commented to me how far he had fallen as the re-orgs over the years have put more and more people between him and the top.

But I have to credit the guy with giving me focus to achieve FIRE. He was the reason I started "moon lighting" (his words!) in real estate. I'ld go home; change clothes; and start another work day managing the rentals. Frankly could not have done it without this jack @ss riding me all day long.

He eventually left the company (I was promoted into his position). It was like a storm cloud cleared over my head.

Come to find out he was laid off from that position ... "a huge blow" according to his sister. My guess is he's got more bad karma coming.
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Old 04-17-2010, 12:55 PM   #29
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Bestwifeever - thanks for the comments. Part of the attitude change is due to the fact that the VP is our of the country until the end of next week. Check back then to see how I am doing! Actually, the more I get a plan in place to make this happen the better I feel. I don't have to wait until 2012 - I'm out in 5 months.

Make the Plan / Work the Plan.
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Old 04-17-2010, 09:00 PM   #30
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Bestwifeever - thanks for the comments. Part of the attitude change is due to the fact that the VP is our of the country until the end of next week. Check back then to see how I am doing! Actually, the more I get a plan in place to make this happen the better I feel. I don't have to wait until 2012 - I'm out in 5 months.

Make the Plan / Work the Plan.
Hi TMretire,

Before I FIRE'd I was in a really hectic work environment. I could have done my best to hang on til Nov 2011 for more pension and supposedly retire health benefits. Instead, I went ahead and did my planning to see when I could FIRE if needed, and decided to do so before my original hang on date of Nov 2011. I look at the calendar today and think to myself, thank goodness I left when I did or else I'd still be stuck there for over a year.

5 months for you probably sounds right around the corner (you'd be FIRE'd by Christmas ), whereas 2012 probably sounds like an eternity, I bet.

I wish you the best.

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Old 04-18-2010, 07:36 PM   #31
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Only 22 more Monday's to go!!
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Old 04-18-2010, 10:51 PM   #32
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That is a very short countdown now, TM--try not to let them see you smiling at work even after the bad boss returns to the office.
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Old 06-07-2010, 08:15 PM   #33
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okay - it has been a while since I last posted. As I noted earlier, I had plans in place to leave my job in September due to a very unhealthly job situation. About 6 weeks ago I found out that a position was available with my current company in the state that I planned to move. The position was one that I had held for 12 years. (3 years ago I went into the home office to fill a position.) I was surprised when they told me that I would need to go through the entire panel interview process. Amazed when I was told that I would also need to complete the "assessments" as well. But today I was floored when I got the call that I did not get the position. I was told that the position has changed over the 3 years and that they did not think that I had to needed skill set. Now I am more certain than ever that I must get out. There is a bonus payout at the end of Sept, that I hate to miss out on. Our house will be on the market by the end of the week. I would like to be able to hang in there until it sells, but it will be very tough. So... any suggestions on how to get through the days to come?
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Old 06-07-2010, 08:33 PM   #34
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So... any suggestions on how to get through the days to come?
Vodka and breath mints.
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Old 06-07-2010, 08:48 PM   #35
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The end of September isn't that far away (about 3.5 months). What I'd do is first make a checklist (if not already done) of all the things (ER stuff, not w*rk stuff) you really need to finish before your ER date. By gettin all the ducks in line, that way you know that you've done what you needed to prepare for ERing and not get distracted by all the stuff at w*rk that you will leave behind. If you accomplish all this stuff ahead of time, then the remaining days will just be, as an analogy to sports goes "garbage time". Of course, I'd hold the fact that you plan on ERing close to the vest and not reveal that to co-w*rkers before you need to.

When I ER'd, I knew about a week or two but didn't tell anyone til I really needed to. I remember my boss calling me, talking about upoming w*rk activities, etc. and I just "played along" and didn't let anyone know I planned on leaving unitl I needed to, otherwise, them knowing you plan on leaving with the time left, could be even more miserable than it already is.
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Old 06-07-2010, 08:55 PM   #36
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vodka and breathe mints - I like it!!
I've got the list together - now it just need to work through everything.

Thank you both for the tips!
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Old 06-07-2010, 09:06 PM   #37
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At least the whole apply for your old job killed six weeks of the waiting time for you, so no harm in not getting it (and maybe the people at your old position had their feelings hurt when you left them for the home office three years ago so they were never going to choose you for the position anyway). The end of September and your retirement date are so close! Hang in there.
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Old 06-07-2010, 09:11 PM   #38
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. I would like to be able to hang in there until it sells, but it will be very tough. So... any suggestions on how to get through the days to come?
Do you have any available vacation time? Take as much of it as you need to, to help break up the last few months and ensure that you can stick it out until the Sept. date.
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Old 06-11-2010, 09:46 AM   #39
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He's a miserable prick because he's rotten to the core and very unhappy with his life - and he can't stand to see anyone around him any less miserable than he is.
I used to have a boss who would actually say (during meetings) "if I want your opinion, I'll beat it out of you". He would then laugh, as a passive-aggressive tactic in case his remark was challenged. Needless to say, morale was the pits.

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And other than a paycheck, there is nothing important going on at work. The important stuff is waiting at home, kids who love you, spouse who loves you, or, if you don't have those things in your life- there's always the dog or your goldfish.

During my last year I was in the maelstrom of politics and I got hit by some flak from about five different directions. It bothered me a bit at first, but then I realized - "in a year none of this is crap or these people are going to matter, because I am sooo out-of-here." I used to draw pictures of sailboats (and dream of sailing in retirement) on my notepad during meetings, or I would endlessly calculate how much bigger my pension was today than it was the day before. Whatever it takes to keep focused on the things that are good and right in your life - that's what you do.
Absolutely right.

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Now I am more certain than ever that I must get out. There is a bonus payout at the end of Sept, that I hate to miss out on. Our house will be on the market by the end of the week. I would like to be able to hang in there until it sells, but it will be very tough. So... any suggestions on how to get through the days to come?
I don't mean to sound critical, but it might be useful to take a step back and try to obtain a better sense of perspective.

Apparently (?) you have enough resources to retire right now, but you want to hang on so that you'll be receive a bonus. Fair enough, but that means that nothing is forcing you to stay: you can decide at any time that the bonus isn't worth the aggravation, and quit. That secret knowledge should be very helpful in putting up with the petty annoyances.

You have the power, not your boss.
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Old 06-12-2010, 08:47 AM   #40
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Fully agree - if the aggravation gets to be too much and does not out weigh the benefits of the bonus, I'm out of there. I have been on vacation this week and return to work on Monday. This week will tell me alot.
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