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Hi All...New with a question already!
Old 12-16-2006, 01:32 PM   #1
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Hi All...New with a question already!

Hey everyone!
Nice to have found this place. I am hoping to do early retirement next year. Twenty years and will be 45.

I do have a question I am hoping someone can answer for me. Next June will be my 20th anniversary. Now..am I able to retire as of my 20 year anniversary..or do I have to complete the 20th year in order to retire? Meaning I would actually not be able to retire until my 21st year anniversary date? This just occured to me this past week. I hope this is making sense. Thanks for any input right off the bat!
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Re: Hi All...New with a question already!
Old 12-16-2006, 01:56 PM   #2
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Re: Hi All...New with a question already!

Quote:
Originally Posted by youngone
Next June will be my 20th anniversary. Now..am I able to retire as of my 20 year anniversary..or do I have to complete the 20th year in order to retire? Meaning I would actually not be able to retire until my 21st year anniversary date?
Hello youngone. Welcome to the forum.

Since your retirement eligibility question is specific to your employer, shouldn't you be contacting your HR department for an accurate answer?

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Re: Hi All...New with a question already!
Old 12-16-2006, 01:57 PM   #3
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Re: Hi All...New with a question already!

You can retire any time you have the finances. Can you get your company pension may be the question? That is determined by the company. Some do allow it and some do not. Get your SPD (Summary Plan Description) and start reading. That should answer your questions about what you can get, at what age and with how much service time.

Good luck and welcome aboard!
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Re: Hi All...New with a question already!
Old 12-16-2006, 02:25 PM   #4
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Re: Hi All...New with a question already!

Welcome to the board, Youngone.

Quote:
Originally Posted by youngone
I do have a question I am hoping someone can answer for me. Next June will be my 20th anniversary. Now..am I able to retire as of my 20 year anniversary..or do I have to complete the 20th year in order to retire? Meaning I would actually not be able to retire until my 21st year anniversary date? This just occured to me this past week. I hope this is making sense. Thanks for any input right off the bat!
Consulting HR is much safer than trying to apply math logic to an HR question. Having warned you, here's what I think:

When you started with your company you had zero years.

A year later you completed one year and celebrated your first anniversary.
Two years after starting you completed your 2nd year and celebrated your 2nd anniversary.
Three years after starting you completed your 3rd year and celebrated your 3rd anniversary...
.
.
.
.
... and when you reach your 20th anniversary you'll have completed 20 years' service.

So you'll already have completed the 20th year when you celebrate your 20th anniversary, and you should be able to retire at the end of the workday.

But there's a bunch of other things to consider besides two decades' service, and hopefully your HR is equipped to tell you about them...
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