Notice period..how much and can they..

[24601NoMore]

Hey, gang..

Been planning ER for some time now and at a point I "could" pull the ripcord any day.

W*rk has become totally unreasonable (won't bore you with the details) and it's HIGH past time to go.

I have a RSU vest coming up in August that's fairly significant and I'd like to keep it..

If I were to give notice with 60 days to find and transition in my replacement, what do you guys think the MegaCorp would do? Show me the door? Take my gracious offer to help them transition seamlessly?

Need 60 days at this point..don't want to lose the HC or stock. Can't put up with the massive BS for 60 more days. It's really beyond words at this point...

Thx..

 

[RunningBum]

They could certainly show you the door. They could do it if you put in notice the day before your RSU vests. I'd wait for the vesting and put in notice as soon as you get it. If you want out ASAP, prepare your transition plan now and offer it to them with the notice.

What is the "HC" you don't want to lose? I don't know that term.

 

[Chuckanut]

It's amazing how much BS can roll off your back once a person has made the decision to retire. Not all of it, of course, and you may get some new BS in the form of "What in the world will you do when you retire? How can you possibly retire? What ever happened to your loyalty to the company? etc. etc. etc."

For me the last few months went easier, albeit time did seem to slow down a bit. When the BS bucket was getting full, I just told self, only xx more months/weeks until retirement. And I planned a nice trip for myself to start about a week after retirement. ;-)

I would definitely wait until I was vested before giving notice. Then give two weeks which is customary.

 

[jazz4cash]

HC=healthcare, I think.

 

[RunningBum]

HC=healthcare, I think.

Sounds right, thanks. It was kind of out of context, and it seems a bit odd to worry about 60 days of healthcare.

 

[HarveyS]

They for sure could show you the door if you give notice. You could be a security risk, a risk for confidential information, or any other excuse. Say nothing, and once RSUs vest give them notice. No need to stick around to train the next guy. If you've seen good people get tapped on the shoulder and escorted out of MegaCorp during downsize periods (I have), you'd feel the same way.

 

[Aerides]

This topic comes up about once a month, and draws many opinions, ranging from "don't give more than contract requires" to "you have no honor if you don't give them a long runway".

ymmv, you need to have a feel for your MC.

Here's a recent multi-pager:

http://www.early-retirement.org/forums/f28/how-much-notice-do-you-give-when-you-retire-89725.html

And another one:
http://www.early-retirement.org/forums/f26/how-much-time-to-give-for-notice-91409.html

 

[bw5972]

It is a companies responsibility to do their own succession planning. If you want to take on the risk of losing your RSU's out of some feeling of obligation just be forewarned that the company almost certainly will feel no reciprocal obligation to you.

 

[joeea]

I have a RSU vest coming up in August that's fairly significant and I'd like to keep it..

If I were to give notice with 60 days to find and transition in my replacement, what do you guys think the MegaCorp would do? Show me the door? Take my gracious offer to help them transition seamlessly?

They probably wouldn't show you the door, but why on earth would you take that chance?

Wait until the 60 days and vesting event is over, give your traditional 2 weeks notice, and call it a career.

Can't put up with the massive BS for 60 more days.

I think you'll find you can put up with anything for 60 days when the end is in clear sight.

 

[24601NoMore]

Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...

 

[omni550]

Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...

Do you have any vacation days? Sick days? (I feel the onset of a cold coming....)

omni

 

[Another Reader]

Do you have any vacation days? Sick days? (I feel the onset of a cold coming....)

omni

Yeah, and if the BS is especially thick and stinky, at the end of the leave, I might just call in retired.

 

[FireFool]

They for sure could show you the door if you give notice. You could be a security risk, a risk for confidential information, or any other excuse. Say nothing, and once RSUs vest give them notice. No need to stick around to train the next guy. If you've seen good people get tapped on the shoulder and escorted out of MegaCorp during downsize periods (I have), you'd feel the same way.

+1

I was in a similar situation waiting for a stock vest date. Don't trust a MC HR. If you figured everything right there's no need to worry about burning future job references. Life's short don't waste it any longer at work once it stops benefiting you - it's not your responsibility to worry about training your replacement - that's what your manager is getting paid to be ready for.

 

[cathy63]

Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...

This would be a good time to reread the plan docs for your RSU program. It should say in there what happens to your shares after voluntary and involuntary terminations. If they let you go during your notice period when you were willing to work, that's an involuntary termination that is not for cause.

Let's say your plan has a 3-year vesting period, and your vesting date is only 2 months away, and your plan plan provides for pro-rata vesting when terminated other than for cause. In that case, you might be decide to give notice sooner than later if you'd only lose at most 1/18th of your shares when they walked you out early.

Of course you may not have accelerated vesting, or you may decide not to take the chance; but it can't hurt to read the docs and find out what your options are.

 

[ivinsfan]

Do you have anything such as dental work, elective medical care or even a family leave type situation that can help you shorten the actual days at work.

Sometimes having the end in sight isn't enough to get you through the week!

 

[davebarnes]

I have a RSU vest coming up in August that's fairly significant and I'd like to keep it.

Give your 1-day notice 1 day after the magic date.

 

[brett]

Absolutely. And double check with the agent that holds the RSU to ensure that they are in fact listed in your account prior to giving notice.

Same with options. There are only so many to go around. Why hand them out to someone who is retiring or resigning? From megaports perspective it defeats the purpose of the program. Same with bonus dollars.

 

[Texas Proud]

The question is how much are the RSUs worth? And if they let you go do you lose them? Note.... when I was let go I still had the RSUs that vested over 3 years.... not big money, but I did not lose them..


BUT, if you lose them and it is big money they why not kick you out and not give you the money?

 

[Scuba]

I agonized over this question too. In my former company, it was customary for C-level executives to give ridiculously long notice periods - at least a year, often 2 years or more. I had a cash bonus coming that I had to stay until a certain date to get, my BS bucket was full, and DH and I were ready to get on with ER. It was tough at times, but I stayed until I got my payout, transferred it the next morning to another account, and gave notice the following day. My employment contract required 30 days’ notice, and that’s what I gave. People were shocked and thought I had another job secretly lined up, despite my telling them I was retiring just after my 56th birthday. DH gave two weeks’ notice at his job, and we both retired on the same day!

I felt a little guilty at first, but others on this forum helped me get over that. Companies pretty easily move on, especially if you have competent direct reports and teams, which I did. Although my CEO/boss pressured me to stay longer, I’m glad I stood strong. Everything worked out great for me, and my former employer did fine too. Hard to believe I know, but somehow they survived without me. [emoji23]

Hang in there and don’t say a word to anyone until you get your RSU. Think how upset you’d be if you told them early and they let you go before you vested.

 

[joeea]

Hey, gang..thanks for the very good advice. I'll wait until the next RSU vest but every day is painful beyond words at this point.

Want to quit immediately after the BS today but suppose I have 50+ days (UGH!) to go at this point...

You get to decide exactly how much those 50+ days are worth to you.
You can always decide to leave immediately.

My company's policy was not to pay out bonuses if you weren't on the payroll when the checks were cut (typically, 2+ months after fiscal year end).

I left immediately after the fiscal year end anyway, with 2 weeks notice. I still ended up getting my bonus. A pleasant surprise, but one I was not willing to stay for.

 

[scrabbler1]

You get to decide exactly how much those 50+ days are worth to you.
You can always decide to leave immediately.

My company's policy was not to pay out bonuses if you weren't on the payroll when the checks were cut (typically, 2+ months after fiscal year end).

I left immediately after the fiscal year end anyway, with 2 weeks notice. I still ended up getting my bonus. A pleasant surprise, but one I was not willing to stay for.

A little similar to your situation with the bonus, when I was planning to ask for a reduction in my weekly hours worked from 20 to 12 (back in 2007, when I was still working, part-time), I didn't want that to interfere with my annual review which included a raise and the annual bonus. I made sure to wait until my raise and bonus were done deals before I made my request, in case they could be reduced or eliminated. My request was granted, and the raise and bonus were unaffected.

Seventeen months later, I retired.

 

[badatmath]

Sounds right, thanks. It was kind of out of context, and it seems a bit odd to worry about 60 days of healthcare.

OP probably means RETIREE health care. I have to meet certain requirements and one day too early would eliminate it so I will wait and give notice the next day.


Employer asks for 90 days but many give less and I plan to as well.

 

[Andre1969]

You get to decide exactly how much those 50+ days are worth to you.
You can always decide to leave immediately.

I've been slowly awakening to this type of reality, myself. For the longest time, I figured that when I do retire, it would be in April. First and foremost, because my birthday is April 2, and I figure that would be the perfect birthday present to myself. Plus, I look at spring as a time of rebirth, and figured that would be a good analogy to tie into retiring.

But, I've also thought about it, for financial reasons. First, we usually get a bonus in late March, and that timeframe is when our raises usually kick in. So, I figure by waiting until April, I'll get the bonus, and my vacation will get paid out at the higher hourly rate.

I've been re-thinking the financial aspect, though. I had originally taken those into account a few years ago...however, the last few years have been VERY good to me, financially, at least.

To put it in perspective, the bonus check this time around was $850, or $386.91 after taxes. They let me accumulate a maximum of 200 hours of leave. Not too long ago I had the wakeup call that, if I'm basing my retirement on whether or not I get $850 before taxes, plus a 3% increase on 200 hours of leave (an increase of about $238 before taxes), then I don't need to be retiring!

Anyway, that revelation definitely took a lot of pressure off. I think I still might wait until April of any given year, more or less, to retire, mainly for the birthday present/rebirth spirituality of it, but money is no longer a concern. It might be worth it to at least work enough so that I can get another year's worth of SS in (I don't have 35 years yet), and to keep adding to the 401k and do a Roth for one more year, but even those financial aspects aren't enough to keep me handcuffed if the desire to retire gets strong enough.

 

[Mdlerth]

MC shall reap what it sows

What ever happened to your loyalty to the company?

Ha ha ha! Good one!

 

[Dash man]

DW gave her notice three years ago in June to retire in November, so she would vest some more RSU and options. The day after she gave notice the CEO asked her to stay until the following June, with her receiving pay and vesting for the entire year through December. She had been with the company for 31 years and decided to take their offer. They gave it to her in writing and honored it all. She also had the joy of seeing her boss fired during that time.