Originally Posted by hankster
The industry I work in is facing a crisis in the next 5 to 10 years due to the aging work force. Some occupations will have 25% to 30% of the present work force eligible to ER in that time (including me
) This will likely create a lot of "retire/rehire" situations where workers can take their pensions, then come back as a contractor for either their former employer or another company thereby earning a hefty income with pension + retiree medical + contract income. Has anyone here done this? If so, how did it work out for you and what kind of pitfalls does one need to be aware of?
I was offered an early retirement buyout with heath benefits last year. Incredible deal. Before I accepted I had already landed a job in a spinoff of my old company, so the decision was really easy.
Another sweet part of the deal is because I decline health insurance from my new employer, they give me a credit in my pay. On top of that, because I was considered a senior employee because of experience with the company before the spinoff, I get 6 weeks of vacation per year. Not too bad...
Pitfalls? I can't think of very many, except that I miss some of the people I worked with and I had to re-establish my reputation. And you still have to decide about the right timing for actual retirement, something I haven't done yet.
Would I do it again? Absolutely!