Well, I'm making the leap - Retirement is finally here

[FI_RElater]

that's for those NEWLY retired...

Welcome to the 'Everyday is Saturday' club.

If you are retired long enough... it's Blursday...
since one sometimes forgets exactly which day it is
(unless its trash day, or something like that)

{eg, we both seemed to feel like it was Friday, instead of Thursday, but it might have been because of all the activities, like my election judge earlier in week (monday setup and all day tuesday)}

...and I would have loved to have gotten a package, but my position was not the variety that they wanted to get rid of, if anything I could have kept going for more years

 

[Cassius King]

Congrats on early retirement and the outstanding severance package!
These next 15 months will be golden.

 

[Finance Dave]

Congrats! 15 months is great. I assume they pay your health insurance premiums (or at least subsidize them) until then also?

When I took a package at MegaCorp, I got 9 months and health coverage through those months.

 

[G-Man]

Congrats! 15 months is great. I assume they pay your health insurance premiums (or at least subsidize them) until then also?

When I took a package at MegaCorp, I got 9 months and health coverage through those months.

During the 15 months of severance, I get the same health care benefits as an active employee. I'm definitely blessed that the company has a generous severance package.

 

[Chuckanut]

Welcome. Relax, put your feet up, pour your favorite beverage and take in the goodlife.

 

[G-Man]

Welcome. Relax, put your feet up, pour your favorite beverage and take in the goodlife.

I will. During the severance period, I want to increase the dollars in my taxable account since most of my wife and I retirement assets is in our 401K accounts.

 

[rk911]

If you are retired long enough... it's Blursday...
since one sometimes forgets exactly which day it is
(unless its trash day, or something like that)

{eg, we both seemed to feel like it was Friday, instead of Thursday, but it might have been because of all the activities, like my election judge earlier in week (monday setup and all day tuesday)}

...and I would have loved to have gotten a package, but my position was not the variety that they wanted to get rid of, if anything I could have kept going for more years

Blursday! I like it!! And I did the election judge thing, too, for 10-yrs. Early voting and election day. Loved it until I didn't. Thanks for serving.

 

[street]

I wish you the best and have fun.

 

[Dean56]

Congrats!! During my last year at MegaCorp I was hoping for a package to be offered, but it didn't happen. No worries, I was already set for retirement.

Enjoy that first day of freedom.

 

[FedRetired50]

Congrats!

 

[brett]

Congrats.

Nice sev. package....a great way to go out.

Enjoy.

 

[brett]

I engaged a lawyer to negotiate my severance package.

On thing he said.....register for unemployment insurance ASAP. I had never done this before. It may depend on your jurisdiction.

Sure enough, after a 22 month wait I was entitled to receive unemployment benefits for 40 weeks or so! First time ever for.

 

[G-Man]

I engaged a lawyer to negotiate my severance package.

On thing he said.....register for unemployment insurance ASAP. I had never done this before. It may depend on your jurisdiction.

Sure enough, after a 22 month wait I was entitled to receive unemployment benefits for 40 weeks or so! First time ever for.

So, you had 22 months of severance pay and after the severance period you were eligible for unemployment benefits?

So, you applied for unemployment benefits at the beginning of severance and not after the severance period was over?

Did you have to file every week during the severance period?

Just want to sure I understand the details.

May I ask what state this is.

Wow..

 

[ychuck46]

As others stated that is a fine severance package. Welcome to the club. I assume you have medical insurance taken care of?

 

[a60dan]

Sounds like a great golden parachute! Congratulations on being paid to retire

I’m closing out year 2 of retirement.

Still procrastinating on jobs around the house, but that’s a pre-retirement issue . Now I have fewer excuses but can hire some things done….

Our 2024 is looking bright with two more grandchildren on the way!

 

[G-Man]

As others stated that is a fine severance package. Welcome to the club. I assume you have medical insurance taken care of?

Yes. Medical insurance will continue until April 2025 as though I was an active employee. After April 2025, I will transition to the company's retiree healthcare plan.

 

[Koolau]

Yes. Medical insurance will continue until April 2025 as though I was an active employee. After April 2025, I will transition to the company's retiree healthcare plan.

What a great story. I never heard of a 15 month package. The package I missed by 2 years (no regrets) was, IIRC, capped at 12 months and I would have gone on retiree healthcare which wasn't as good as employee healthcare. Good on you and congratulations. A great send off, indeed.

 

[mickeyd]

CONGRATS G-Man...now, take a nap.