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03-23-2018, 10:09 PM
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#21
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2005
Location: Chicago
Posts: 13,151
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Quote:
Originally Posted by Evergreen
Can an employer stop you from retiring?
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You can always quit, of course, but your employer may have some ability to control how and when you retire (leave with ongoing “retiree benefits”). Check with HR.
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
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03-23-2018, 10:36 PM
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#22
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 17,008
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I just recently heard of a fellow that was going to retire, and instead he was fired.
Could your boss fire you, so you don't get a pension ?
Without a pension, you would have to return to work....
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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03-23-2018, 10:56 PM
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#23
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,006
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Quote:
Originally Posted by coveredbridge
Only if you want to be stopped
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Quote:
Originally Posted by NW-Bound
With this country founded by people like that, it's a wonder that the ER's are such a small percentage of the population.
And I kept reading all this stuff about Protestant work ethics.
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I don’t think England had been Protestant very long way back then, LOL!
__________________
Retired since summer 1999.
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03-24-2018, 05:28 AM
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#24
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Recycles dryer sheets
Join Date: Mar 2012
Location: London
Posts: 68
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I could probably push for more money if they are so desperate for me to stay but funnily enough money is not really the issue. I've never been driven by money but I have always been sensible with money which is why I can consider retiring at 55. They can't stop me retiring of course but the job that I am doing is quite unique and there is no one else to do it and we have recently lost some key staff. I can sort of see where they are coming from, just walking out of the door will make it difficult for them. I have been there 35 years and my company pension is looking pretty good, certainly don't want to jeopardise that.
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03-24-2018, 05:34 AM
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#25
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Apex and Bradenton
Posts: 1,790
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Just tell the boss you'll "w*rk" from home.
And then, don't. See how long they pay you.
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03-24-2018, 05:35 AM
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#26
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Full time employment: Posting here.
Join Date: Oct 2016
Location: Pinetops
Posts: 521
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Quote:
Originally Posted by Evergreen
I could probably push for more money if they are so desperate for me to stay but funnily enough money is not really the issue. I've never been driven by money but I have always been sensible with money which is why I can consider retiring at 55. They can't stop me retiring of course but the job that I am doing is quite unique and there is no one else to do it and we have recently lost some key staff. I can sort of see where they are coming from, just walking out of the door will make it difficult for them. I have been there 35 years and my company pension is looking pretty good, certainly don't want to jeopardise that.
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In the immortal words of Nancy Reagan - "Just say No!"
In the immortal words of Donald Trump - "Your Fired." By the way, he really got a lot of practice with this concept on reality TV.
__________________
I
ER 12/15/2017
Now: Side Hustle(r) Extraordinaire
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03-24-2018, 05:38 AM
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#27
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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Here is the way one young man handles the situation :
__________________
" A person is smart, but People are dumb, dangerous, panicky animals, and you know it " Agent "K", Men in Black
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03-24-2018, 05:39 AM
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#28
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Quote:
Originally Posted by Evergreen
I have been there 35 years and my company pension is looking pretty good, certainly don't want to jeopardise that.
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I am not familiar with British laws and regulations on pensions, but surely if your pension plan is vested, there is nothing they can do to take it away from you. I think it would be helpful to verify the security of your pension to remove any question. Next, look at your contract, if you have one, or relevant labour laws, and determine how much notice you are legally required to provide. It’s then up to you to make the decision. Or are you one of the many people who suffers from One More Year syndrome?
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03-24-2018, 05:40 AM
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#29
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,637
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Quote:
Originally Posted by brucethebroker
I really like the "stop showing up" answers!
However, I have worked for a couple of dirt bags in the past that would lie to HR about your "retirement come June" conversation. Cover yourself with a certified letter to HR announcing your retirement. My guess is that HR will start the ball rolling and notify your boss formally. Then it is out of his hands.
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Certified letter? I just copied HR on the email to my manager.
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03-24-2018, 05:42 AM
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#30
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2013
Location: Limerick
Posts: 5,637
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Quote:
Originally Posted by Sunset
I just recently heard of a fellow that was going to retire, and instead he was fired.
Could your boss fire you, so you don't get a pension ?
Without a pension, you would have to return to work....
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It doesn’t work that way anymore thanks to ERISA laws. Pensions are vested and protected.
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03-24-2018, 05:59 AM
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#31
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2007
Posts: 13,202
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Quote:
Originally Posted by Meadbh
I am not familiar with British laws and regulations on pensions, but surely if your pension plan is vested, there is nothing they can do to take it away from you. I think it would be helpful to verify the security of your pension to remove any question. Next, look at your contract, if you have one, or relevant labour laws, and determine how much notice you are legally required to provide. It’s then up to you to make the decision. Or are you one of the many people who suffers from One More Year syndrome?
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A quick scan of previous posts shows that the OP was in the Class of 2015 here...deferred to 2016...then in the Class of 2017...what do you think?
I think Evergreen might not be implying that they would take the pension away, but rather that the company may not survive without him, thus the pension could disappear. They will find a way to carry on. 2+ months is plenty of time to prepare. Ask them what would happen if you got hit by a bus tomorrow. If they don't have a plan to replace any employee, they should.
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03-24-2018, 07:26 AM
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#32
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Recycles dryer sheets
Join Date: Jan 2017
Location: Charlotte
Posts: 222
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Quote:
Originally Posted by Evergreen
Hi,
I've been a member on here for some years now, finally ready to throw it all in. Went to my boss today and told him that I intend to go in June and he has told me that I'm far too valuable and that he won't let me go. I live in the UK not North Korea, surely I can do what I like!
Can an employer stop you from retiring?
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Didn’t you hear, Lincoln freed the slaves.
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03-24-2018, 08:10 AM
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#33
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Thinks s/he gets paid by the post
Join Date: Oct 2014
Posts: 1,537
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Quote:
Originally Posted by Evergreen
I could probably push for more money if they are so desperate for me to stay but funnily enough money is not really the issue. I've never been driven by money but I have always been sensible with money which is why I can consider retiring at 55. They can't stop me retiring of course but the job that I am doing is quite unique and there is no one else to do it and we have recently lost some key staff. I can sort of see where they are coming from, just walking out of the door will make it difficult for them. I have been there 35 years and my company pension is looking pretty good, certainly don't want to jeopardise that.
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My plan and a potential plan for you could be to go to 4 days/week for a few months followed by 3 days/week for a few more months until the new person is fully up and running. Also try to keep the 5 days pay while you go to 4. If you like your company and they have been good to you the proposed plan would be a win win. Good luck.
__________________
-Big Dawg-FI since 9/2010. Failed ER in 2015. 2/15/2023=DONE! "Blow that dough"-Robbie
" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
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03-24-2018, 08:34 AM
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#34
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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No one is irreplaceable. What was their plan if you were run over by the beer truck?
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03-24-2018, 08:37 AM
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#35
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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Cybernetic implants and voodoo. The Working Dead.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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03-24-2018, 08:44 AM
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#36
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Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,390
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I don't know what your company rules are, but I would certainly look into the possibility of receiving all pay that is due on the day you leave. This would include checking company, as well as the rules of the country you reside in as to what your rights are. Otherwise the company could delay paying you what you are due and possibly deny paying you altogether. Yes, companies are being sued because of this practice. My former company is being sued right now in a class action lawsuit.
__________________
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger
The first rule of compounding: Never interupt it unnecessarily. Charlie Munger
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03-24-2018, 08:52 AM
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#37
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Recycles dryer sheets
Join Date: Jul 2016
Location: New Hampshire
Posts: 381
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When I chose to take an early retirement package, several levels of managers tried to convince me to stay, and I was offered a "retention bonus". But it wasn't about the money - Megacorp had made a rather sweeping change in how and where employees would work, and I just didn't want to work in the new environment.
__________________
Steve
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03-24-2018, 08:54 AM
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#38
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Recycles dryer sheets
Join Date: Mar 2010
Location: Just south of Rochester
Posts: 119
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Sounds to me like they should be paying you a lot more money.
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03-24-2018, 08:54 AM
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#39
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: South central PA
Posts: 3,469
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Quote:
Originally Posted by Evergreen
I could probably push for more money if they are so desperate for me to stay but funnily enough money is not really the issue. I've never been driven by money but I have always been sensible with money which is why I can consider retiring at 55. They can't stop me retiring of course but the job that I am doing is quite unique and there is no one else to do it and we have recently lost some key staff. I can sort of see where they are coming from, just walking out of the door will make it difficult for them. I have been there 35 years and my company pension is looking pretty good, certainly don't want to jeopardise that.
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Severing the work relationship as a valued professional is very complex and individual. Don’t burn bridges in the process. Going less time, and easing into retirement is not a bad option.
No pension for me, but if you are that valued and follow the rules, your pension will not be in jeopardy.
I understand where you are coming from. I spent a good portion of my career in “burnout”. However for a few years I worked a schedule and the type of work where I was happy to go to work. Just not happy with my “superiors”. Then I worked with a great group but my hours were too long and the work was unusually stressful. In 2014 I found the E-R forum and decided to retire. Well, the very week I was set to retire, I got an offer from the same company for ridiculously easy money, and they were desperate. So I worked independently for contract work for about 2 years, then told them I was “done “ July, 2016. But four months later when our hospital went to an electronic medical record, I took the training and was horrified how disastrous it would be without someone to create templates for our newborn notes. So I went to the hospital every day for 2 weeks , and created templates for all to use. I got well paid for my self-taught computer skills.
In May I got a call from my former director, asking me to help out in the one position in my career that so really enjoyed. Given the political instability of the ACA in spring of 2017, I took the position. I got a contract in December where I’m paid significantly more than I was, much less work, and with cheap benefits.
If you are that valued, make it work for you, not them. And maybe they can hire someone to do your valuable work, and you can train the person the way you see fit. Going part time and controlling your schedule is a huge step toward ER. Mostly I feel like I’m doing what I want with my time.
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03-24-2018, 09:25 AM
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#40
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2013
Location: Texas
Posts: 10,863
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Quote:
Originally Posted by NW-Bound
Well, if they want you that much, tell them "Show me the money".
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And lot's of it.
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