In 27 months, I will turn 55 on Wednesday, April 24, 2013. I plan to ER on Friday, April 26, 2013 to avoid any penalties for accessing my TIAA-CREF retirement funds before age 55.
1. If all goes well between now and then, I plan on informing my supervisor on February 1, 2013 of my intention to ER. Is it acceptable to announce my intention in the form of a written statement; as opposed to first 'asking' for permission to leave their employ on April 26?
2. The only benefit I'll get from my current employer (and it's not insignificant) is that they'll pay for half my health insurance until age 65. It's also important to TIAA that I do not 'separate from service' until age 55. So...Am I a fool, or is it ill-advised, to announce my intention prior to me actually reaching the age of 55?
I'm trying to do the right thing in giving my employer sufficient notice. I've been with the organization for 32 years. And while by no means am I high in the organization's hierarchy; I do have tons of experience in a position and department that is very important to the overall health of the organization. Also, while I have been with them 32 years and break in a new boss on average every 3-5 years, I certainly appreciate the fact that no one is indispensable. Also, the organization's mission is Christian-based so I would hope that everything would unfold without any surprises if I announce prior to 55. Still, I don't want to screw this up after w*rking so hard to reach my goal of ER. Should I just suck it up and wait until after April 24, 2013 to put things in motion?
Thanks for any insight.
1. If all goes well between now and then, I plan on informing my supervisor on February 1, 2013 of my intention to ER. Is it acceptable to announce my intention in the form of a written statement; as opposed to first 'asking' for permission to leave their employ on April 26?
2. The only benefit I'll get from my current employer (and it's not insignificant) is that they'll pay for half my health insurance until age 65. It's also important to TIAA that I do not 'separate from service' until age 55. So...Am I a fool, or is it ill-advised, to announce my intention prior to me actually reaching the age of 55?
I'm trying to do the right thing in giving my employer sufficient notice. I've been with the organization for 32 years. And while by no means am I high in the organization's hierarchy; I do have tons of experience in a position and department that is very important to the overall health of the organization. Also, while I have been with them 32 years and break in a new boss on average every 3-5 years, I certainly appreciate the fact that no one is indispensable. Also, the organization's mission is Christian-based so I would hope that everything would unfold without any surprises if I announce prior to 55. Still, I don't want to screw this up after w*rking so hard to reach my goal of ER. Should I just suck it up and wait until after April 24, 2013 to put things in motion?
Thanks for any insight.