Reactions to your retirement announcement

[97guns]

I made no announcement because I was laid off my last job, collected 18 months of unemployment and most of the other guys went on to the sister company for employment, I got a call 2 times from the boss urging me to go and get the job they had waiting for me, I think he wanted me to work rather than pay unemployment

I ran into a couple of guys last month when they were unloading their truck and it came out in conversation that I was retired. They were astonished, jealous, curious, amazed and sad that they weren’t finished with their job for the day let alone the work for the rest of their career

 

[IMATERP]

About 6 or 7 months ago I mentioned my intentions of semi-retiring to my Supervisor. She was very understanding but also let me know that the State was planning to offer severance packages to those that volunteered to leave their positions. I thought OK, I'll play out the process - but I did so with no expectations. I'm just usually not lucky in lottery type processes. Anyway, 23 days ago I was notified that my application was accepted and that I would have to leave on 12/15/2017.

Internally, most people know - but I've remained very humble and just trying to slip out quietly. I've spent the month using my excess accrued leave and have had my final meeting with Supervisor and transferred responsibilities to my staff.

I've actually remained low key even though my insides are jumping up and down.

I'm part of a group of 20 people who accepted this "package" and will spend next week visiting with others who are leaving.

At the State level, there is little fanfare and no gifts. I realize that my gift will be the fact I no longer have to put up with the frustrations of poor systems, structures, and processes in conjunction with folks not really qualified to be in their positions.

6 to 9 months off - and if I really get bored, I can always pick up a temporary or seasonal side hustle.

I

 

[2017ish]

This varies wildly by employer. Like RobbieB, both DW and I gave ~2 years notice (she a little more, me a little less). Neither of us experienced anything bad from it. (Small physician group & small law firm.)

Like you, she was contractually required to give 6 months notice, but accurately believed that was woefully inadequate to find a replacement. As for me, we were looking to hire someone and I wanted to alert my "bosses" that they shouldn't necessarily hire an entry level attorney with the expectation that I'd continue to be around.

But, again, YMMV (and likely will vary).

 

[Bamaman]

I worked for a Mega-Megacorp with top line benefits. Out of the hundreds of people that came thru the company, few ever retired on their terms.

In 2008, the decision was made that any employee 55 and older would be retired in 3 waves. I was 300 miles away when I got a call that tomorrow was my last day. No thank you. No go!d watch. No retirement dinner.

But 5 weeks vacation pay, full salary for another year, a $1000 per month retirement supplement for 42 months (until age 62), 50 weeks unemployment and healthcare insurance to age 65 was worth a whole lot more than a gold watch. I never wanted a retirement meal anyway.

What was so nice that it was a business decision and nothing personal. But the company paid a big price for acting that way. Now they are trying to run a $12 billion company with inexperienced people and subcontractors.

 

[growing_older]

In 2008, the decision was made that any employee 55 and older would be retired in 3 waves.

How is this not blatantly in violation of age discrimination laws? I would expect such a policy to result in heavy fines and damage awards to affected employees.

 

[marko]

How is this not blatantly in violation of age discrimination laws? I would expect such a policy to result in heavy fines and damage awards to affected employees.

My outfit offered an obscenely generous separation package in exchange for not taking them to court.

 

[Scuba]

Particularly at a Mega Corp, like Scuba states most times there's no upside in announcing early, and always exposure to downside. If you're retiring around a specific date driven eligibility event you should wait until after that date. This comes into play if you're in bonus eligible positions and/or have an accelerated age based vesting of stock grants (as I was). It probably also is relevant for those of you that had date driven criteria for pensions or retiree health. While not the biggest impact it comes into play with annual salary reviews too - announcing early exposes you to being the one to absorb the lesser (or no) increase when a manager is figuring out how to divvy up his budget among his staff. No matter your plans it still feels shxxxy to get a lousy raise at your very last evaluation, especially if you're seeing it for multiple months thereafter.

Once I decided on retirement I did my best to prepare my staff (who I cared for) by giving them more responsibilities and freer reign on decision making. I sent them to more meetings on my behalf and generally did my best to dis-involve myself as much as possible. I wanted to do my best where my departure would not disrupt their day to day or hold their careers back in any way, and hopefully moved them forward. As to my bosses, I saw to many other instances where long term peers were walked out the door with no or little advance warning. I saw too how no matter how valuable the person may have been the company did just fine the day after without them. After all of my date driven "benefits" were achieved I gave exactly one weeks notice of my departure. I had pre-scheduled an otherwise regular communication lunch with my staff for the day I announced so I could tell them all together at once - I told my boss that morning right before lunch. If I was moving on to another company I probably would have given 2 weeks notice, but since I no longer cared about that one-sided professionalism there was absolutely no upside in giving another week of my life up that's better enjoyed away from w@rk. I'll add once I announced I was quickly dropped from decision-making/planning meetings - which was a primary component of my responsibilities. Ultimately I felt that last week was like being in high school detention - having to show up but not fully participating in the organization. Some people might revel in that "not working" but for me if it was any longer it would have been pure hell. As to saying goodbyes you don't need to say goodbye to your true work friends as they and you will make the effort to stay in contact with each other - the fake friends will quickly disappear from your life with no consequence to either of you.

I did the same with my staff. Never mentioned ER plan until I gave notice, but did transition more of my work to them and gave them more visibility and leadership responsibilities. Also prepared a detailed coverage/transition plan for how the organization could cover my responsibilities while searching for a replacement.

My former boss twisted my arm pretty hard to stay for an additional six months to give him time to find a replacement and integrate him or her. I'm glad I said no. I fulfilled my contractually obligated notice period and left behind well-trained direct reports and a thorough coverage plan, but was very happy to leave 30 days after giving notice. It took them 11 months to replace me, so if I had agreed to stay, I would probably have still been working through the end of 2017. Instead I've spent the last 13 months being RE'd!

 

[FIREd]

I was a contract worker. When my contract expired, it was not renewed. No party, no fuss. So I did not really retire from my job, I just did not seek new employment after my contract ended. People were puzzled initially about the lack of urgency in my job search. Then they got it (I think).

 

[UnrealizedPotential]

My co-workers I am sure were jealous when they found out I was leaving. I would imagine they thought I would have to go back to work. Wrong! All they cared about were their football games and the latest concerts to go to. Nothing wrong with that if you have a plan to get out of work if that's what you want.

If you do want to leave but all you care about is sports and going out on the weekends, well, you'll be working a long time. But to answer the question, there wasn't much of a reaction when I left. I didn't talk to anyone about it really except my immediate boss a few days before I left. It took many years of self sacrifice to achieve it and what drove me in part was the job itself which I had grown to dislike and all the BS and partly my co-workers who I honestly felt were living on a different planet than myself with different interests and goals.

They didn't get it, and it wasn't my job to see they did. They just didn't seem to understand. I think that's why there was no reaction, or at least not a reaction they let me see. I think that's what set me apart from those who I used to work with. I seemed to be driven in ways they were not. I was never a part of the "in" crowd at work and I didn't care.

 

[MRG]

After almost 30 years at age 56 I became Done! I really became upset over the lack of leadership my VP showed. I decided to end my OMY as I couldn't change him.

I talked briefly with benefits about COBRA and 401k distributions but never said I was leaving.

I waited for a day my direct manager was off to schedule a meeting with the VP. I didn't give a reason why, I'm retiring! He wasn't expecting retired, he thought I'd gone elsewhere.

My two co-w*rkers were extremely jealous. One fellow was in his 70s, retired before and couldn't handle finances. The other guy was just mad at the world about everything. They were both toxic to be around.

I gave a little over 2 weeks as that's what was expected.

 

[W2R]

I worked for the federal government, so I didn't really have to be concerned about being let go if I revealed my retirement plans. I was still a little secretive even though I knew my retirement date years in advance. I didn't want my (horrible) supervisor to use that as an excuse not to give me any bonuses, good assignments, or "goodies" at work.

Well, my supervisor was given a non-supervisory job since she was so awful, and my new supervisor turned out to be my best friend at work, who I had already told about my retirement plans. So much for secrecy! I eventually told the rest of my co-workers about six months before I retired.

I guess the last month or two, my (nice, new) supervisor asked me to attend meetings in her place since she was utterly swamped with them and had actual work to do (which I didn't really, at that point). So, I went. That wasn't fun but I was OK with doing it as a favor to her.

 

[street]

The reactions will vary from the people around you. Some won't say a word and some will be giving all the advise in the world even though they have 10 years left of work. LOL

What the reactions mean is another thing I often thought what the quite ones are thinking and the ones with all the advise what they really are telling me. LOL

When I was asked I would just be truthful and say I don't have to ever work again so why work. My other response was you can't buy back time and time is more precious then this job.

Good luck

 

[Trawler]

Well I just plain gave my two week notice as I was tired stressed out and had an adversarial relationship with a new boss at a mega corp. When I gave notice my boss said I could not be retiring I was to young at 51. I said to him being able to retire was not a functional of my age but being FI. He then asked where I was going to work. I replied on my boat. He reminded me both verbally and in writing about my non compete contact and that was it. Done exit interview and it was over. Had several calls from coworkers after I left wondering what my plans were and what I was up to. Once they believed I was really retiring they want to know how one could do the same.

 

[Bryan Barnfellow]

I worked for a micro corp and I made it known 2 years in advance when I planned to retire. But I left a little early, only a year and a half after.

Like most nobody believed me I guess, who retires at 59 anyway.

RobbieB,
We are blood brothers! I gave my organization a full year's notice. Then I left 3 months early after some bad board members were doing the usual, making my life difficult, and a bell rang in my head and I thought, "I don't have to do this!" Met with the President the next morning and said I'm out now, well, with 30 days notice. He was wonderful and said, "I don't blame you." And that was that...

-BB

 

[YVRRocketSurgery]

I work at a megacorp and am planning my exit in about 4+ years. Our HR is pretty good in that they've posted good documentation on employee departure procedures.

I'm debating giving about a year's notice to my manager versus about 3-4 months. My thinking around giving a year's notice is to potentially get a departure package. Generally speaking, staff that have been with the company over a decade typically get about 18 months severance which IMO is pretty generous. I'm not sure how true this is but I've heard 18 months severance is the sweet spot where it's not worth it for the employee to sue the company for wrongful dismissal. Anyways, I'm not sure if I'd want to fully advertise it or just put out soft feelers that I'm looking for an exit.

I think I'm more inclined to give notice in Jan for a April departure. Bonus numbers are locked in at the end of December and they are paid out in February. In the mean time, at work, I just talk about retirement being 20 years away still.

While we've had a few retirement parties for some staff, there's been a lot of forced departures in the last 2 yeas so it's been kind of hit and miss of late. Personally, I'm kind of a low key person so I kind of see myself just slinking away. I think it would be a small surprise since I would be 50yo but not a huge shock since there have been a number of people in the company that have retired in their early to mid-50's albeit with a DB pension combined with an 18 month package (whereas I was a crossover to the new DC pension).

 

[CardsFan]

After read in some of these, I feel pretty lucky. No bad blood with local management (though I could see issues with the new Mega-mega corp coming). My supervisor was actually some one I had hired years ago. We had a great relationship.

I went on my own terms. Despite rumors of coming packages, I decided when the time was right. I had many prior conversations with co-workers at my level and age. They all talked about retiring, but the first are just doing it now, almost 2 years later. And the one most vocal about going early... he is still there.

When I left there was nothing but smiles and congratulations. I never heard one snide, nasty, or even negative comment.

Recently went to a Happy Hour with some former co-workers, that are still working. Most were younger (30-40) and they look at what I did as an inspiration. Gotta admit, it made me feel good.

 

[Bryan Barnfellow]

By the way, when I gave my one-year notice of my impending retirement (at age 59) the chairman of the board stopped by my office and said he was sorry to hear the news and then asked, "But how will you get along? You're too young for social security." I just smiled and said, my wife and I would manage "somehow."

 

[iloveyoga]

In 2013, I did most of my planning in private, just because it was my business. When I was ready to give my notice, about two and a half weeks, I asked to meet with my current boss. He was very surprised, but professional. My projects and people were passed along at the last possible minute, to my peers who were already overloaded.

 

[ocean view]

Management was supportive and happy for me. However, one of my coworkers, a peer, went through all the stages of grief over a two week period. She cried when I told her (the big, ugly, cry; sobbing my name). Said she didn’t believe me. Then she stopped talking to me, then she tried bargaining with me (maybe I could work part time)...right through all 5 stages. It was textbook grief. I was really taken aback by her reaction, nothing I anticipated.

She eventually got through her grief, we’re still friends and see each other every few months.

 

[The Onceler]

Great info thanks all!

 

[CoolRich59]

This is true at most employers. HR and benefits people are under no obligation of confidentiality and you should generally assume they are there to protect the company's interests, not yours.

Not to derail this thread, but that was my experience as well.

One of the folks in my department had a major beef with our department head and things were getting ugly.

I don't know what I was thinking, but as someone who had insight on both sides of the dispute, I agreed to talk to HR and tell them what I knew on the condition that my involvement be kept confidential. I was assured it would be.

An hour after meeting with HR, the exec I reported to called me to her office and excoriated me for not escalating the matter to her instead of HR. (It didn't seem to matter to her that it was not my dispute, and I had neither circumvented her nor brought it to HR. )

Needless to say, I never spoke to our HR rep again.

 

[CoolRich59]

They have cut backs coming for next year and just said that if someone has to go, why shouldn't it be me over someone who wants/needs to keep working. For me, they would treat me as any other lay-off and I would get a severance package.

You might want to get that in writing.

At megacorp, I was a department head and, consequently, one of the managers responsible for putting together the list of employees who were going to be let go and given a severance package.

At the same time, I was also interviewing for a j@b with another firm. When we the final list of names of the employees that were going to be let go, I contacted the firm I was interviewing with, asked them if I was their candidate. I said, if so, I would put my name on the list and save someone from losing their job.

They said, assuming we could agree on salary, etc., I was their #1 candidate. So, I went out on a limb, gave notice, removed a name from the list and substituted my own.

Imagine my surprise, when megacorp refused to give me a severance package because I had voluntarily "resigned" and was not let go. An incredibly bush league move and I let them know in no uncertain terms.

 

[Just_Steve]

I had a countdown calendar above my desk for two years.
Being a career civil servant had it's perks.

 

[Z3Dreamer]

Anyone have experience with a corp that immediately locked you out of physical and computer access upon giving notice?

 

[Danmar]

It really depends on your employer and your position. I negotiated my retirement with the head of HR after an initial discussion with my boss, the CEO. Took several months to agree on a plan and date. The date was out several years. With a very generous retirement package if I stayed and ensured my successor was “ready”. Only the CEO and, I presume, a few HR people knew. The announcement (including press release) was made about a month before the “date”. I told my direct reports face to face ealier that day.

However, just before this announcement, we agreed I would stay another year, in a different capacity as insurance that she was indeed ready. When I finally left it was anticlimactic.

Lots of congrats, and best wishes. Big going away dinner, etc. They were, and still are, “a class act”. I am always a little surprised and sorry to hear others have had such bad experiences around these type of issues.