How much notice do you give when you retire?

[2017ish]

Give verbal notice as far in advance as you can. Every one knew 24+ months out for me. I gave written notice two week before the last date.

This was us as well, although DW's was both oral and written notice via email. (I never gave written notice.) But it all depends upon your workplace environment and what you do. 2 years notice is unlikely to be appropriate or smart for most workers--and it sure seems that even 2 months can be dicey if one isn't ready to walk at time of notice.

 

[whatnot]

My employer has a written policy. 1 month for management and 2 weeks for hourly staff. If you do not provide proper notice, you may not be paid vacation accrued.
So I would read your Policy and ensure you give proper notice that could impact any pay outs.

 

[Scuba]

I was C level and my employment contract required 30 days notice. I originally thought I'd give 90-120 days, but as my resignation date approached, I realized I really didn't want to stick around that long. Instead, I prepared my direct reports to handle key responsibilities without sharing my departure plans prematurely. I also prepared a detailed coverage plan outlining my critical activities and deliverables and suggesting how each of them could be handled while my position was vacant, which I gave to my CEO when I resigned.

By the end of the 30 days, I had fully transitioned key responsibilities and felt everything would be fine in my absence. My CEO pressured me to stay longer to allow him to find a replacement, but his approach was not motivating to me so I decided there was nothing he or the company could give me to incent me to stay.

In hindsight, it was best to leave when I did. It took my CEO 11 months to name my replacement and in the meantime my former direct reports had the opportunity to shine and be rewarded. And I had a year of freedom I wouldn't have had if I had put the company's needs before my own.

I agree with others that it depends on the relationship you have with your boss and others at the company. It also depends on what you're retiring to and how important that is as a priority in your life. For me, more time with DH was a much higher priority than more help for my company. And since I complied with the notice period in my contract and worked very hard my last month to ensure a smooth transition, I left on good terms, albeit more quickly than my CEO would have liked.

 

[Lawrence of Suburbia]

I'm treated like such dog$#@! where I work, I'm just not showing up the day after my last holiday bonus check hits the bank.

... I kid.

I'll probably ask my boss (a nice guy, truly) how long he needs me to stick around, to be in his good graces after I'm gone; you never know what could go wrong with retirement finances, and may need to re-enter the workforce. (Unlike you lot, I don't have a seven-figure portfolio, or even close.)

 

[Racer X]

My answer is "Give notice no sooner than you are ready to be asked to leave that day."

I agree with this. I was on good terms with my company, too. But I made all preparations just in case I got a "Thanks for your service, and security is going to rough you up on the way out."

My letter said two weeks, I told my boss I could stay longer if needed, and in the end, I transitioned everything in about 3 days and got paid for the rest.

 

[bobandsherry]

No person is irreplaceable, if it takes more than 30 days for company to transition your responsibilities / duties then you and the company haven't done a very good job of cross training.

Providing a long notice of your retirement seems to be either be that you are really not mentally prepared for retirement or that you are looking to garner attention from your peers and staff.

 

[bobandsherry]

I was C level and my employment contract required 30 days notice. I originally thought I'd give 90-120 days, but as my resignation date approached, I realized I really didn't want to stick around that long. Instead, I prepared my direct reports to handle key responsibilities without sharing my departure plans prematurely. I also prepared a detailed coverage plan outlining my critical activities and deliverables and suggesting how each of them could be handled while my position was vacant, which I gave to my CEO when I resigned.

By the end of the 30 days, I had fully transitioned key responsibilities and felt everything would be fine in my absence. My CEO pressured me to stay longer to allow him to find a replacement, but his approach was not motivating to me so I decided there was nothing he or the company could give me to incent me to stay.

In hindsight, it was best to leave when I did. It took my CEO 11 months to name my replacement and in the meantime my former direct reports had the opportunity to shine and be rewarded. And I had a year of freedom I wouldn't have had if I had put the company's needs before my own.

Interesting, your experience was very similar to what I had outlined as my approach to announcing my retirement. As of next month it will be two years since I gave my notice, hard to believe how quickly two years has passed.

 

[RockyMtn]

I gave six months.

It was great. It changed my relationship with the Company. I didn't spend time on the next cycle's planning. I didn't do my "employee development" stuff for HR.

My boss knew that he wanted me around to finish a big project, he made that clear to his boss. I worked on something I enjoyed and shucked as much of the irritating stuff as I could.

What he said...contract required six months notice but my boss knew I was out the door. It was kind of nice not having to deal with a HR cycle and a budget cycle and still get paid.

 

[shortstop14]

I ended up giving two months notice, right after the bonus for the year hit my paycheck. I was working from home by that point, so I didn't have any personal effects at my desk to be removed, and there were no other financial incentives I needed to be concerned about.

The two month date coincided with a major project deliverable date, so I knew I was pretty safe - I would have been ecstatic to get cut off and not have to finish it, but I also knew that no one else wanted to do it since it was a tedious and annoying project. In the end, I finished it a couple of weeks early and coasted into the final date.

 

[Rdub]

I worked in megacorp for nearly 20 years. I gave them nearly 6 months notice. This time period included 2 qtrly director bonuses and an option vest. Yes it was a gamble in an at-will state, but I had great relationships with everyone there and I felt the risk was very small. In the end, it was a great decision for me and they really appreciated it.

 

[2017ish]

No person is irreplaceable, if it takes more than 30 days for company to transition your responsibilities / duties then you and the company haven't done a very good job of cross training.

Providing a long notice of your retirement seems to be either be that you are really not mentally prepared for retirement or that you are looking to garner attention from your peers and staff.

Depends upon the job. Say you are partner in a four doctor group with every fourth night/weekend call for OB in a nonteaching hospital. Getting someone competent and capable to replace you comfortably within that partnership can take 2+ years even when actively searching. (And, pray tell, who can be "cross trained" to take your responsibilities within the group--when only your three partners have licenses and privileges?)

The group could go to every third and swing the other day--but that isn't simply replacing you. (If you got hit by a truck, they'd make do, but at considerable expense to their personal lives until they managed to find a replacement.)

 

[Looking4Ward]

Can you elaborate?

I had previously positioned or promoted key staff into roles where they could easily assume portions of my responsibilities. When I was confident they could swim on their own, I gave my notice. They enthusiastically stepped up to the plate and took everything off mine. By day 30, I literally had nothing to do. By day 59, I felt like Kramer in those Seinfeld episodes showing up for work every day for a job that didn't exist. Not to mention that knowing what awaited me at the end of those two months made every day seem to last 48 hours.

 

[Danmar]

My retirement was all set to happen on Oct 31. We went on an Alaskan cruise in late August and during the cruise I threw my back out. Came back to work in early Sept in a wheelchair, As soon as my boss saw me he told me to “go home and get better. If we see you back here it’s great but not required”. Only went back to clear out my desk and attend my going away dinner. Too bad I was in so much pain and couldnt enjoy the extra time. As I said, these guys were a class act.

 

[Milton]

I gave 6 months notice.... I based this on a request by the CEO for 6 months notice.

Personally, I would factor in the CEO's request to my decision-making process only if the company had previously been reasonably receptive to my requests (for pay raises, additional staffing or other resources, flexibility in scheduling vacation time, etc.).

 

[bobandsherry]

Depends upon the job. Say you are partner in a four doctor group with every fourth night/weekend call for OB in a nonteaching hospital. Getting someone competent and capable to replace you comfortably within that partnership can take 2+ years even when actively searching. (And, pray tell, who can be "cross trained" to take your responsibilities within the group--when only your three partners have licenses and privileges?)

The group could go to every third and swing the other day--but that isn't simply replacing you. (If you got hit by a truck, they'd make do, but at considerable expense to their personal lives until they managed to find a replacement.)

I'd bet my next month's worth of dividends that what you outline is really unique and doesn't reflect the majority of users here.

 

[2017ish]

I'd bet my next month's worth of dividends that what you outline is really unique and doesn't reflect the majority of users here.

Of course it isn't the majority situation; my point was "it all depends"--in response to an extreme blanket statement that no one should ever need to give more than 30 days notice unless they or the company failed at "cross training." And which followed that up by claiming that giving long notice is evidence of not being ready to retire, or of a weird need for some type of ego gratification.

As for "unique"? Nope; merely unusual.

 

[Tallman4123]

My advice is to give no more notice than required within your company's HR policies or your employment contract.

My employment contract stated three weeks notice and that's what I gave. I knew it would be burdensome to my boss and my team, but our firm had been bought by MegaCorp a year earlier and I was unsure what the "home office" reaction would be if I was courteous and provided an extended notice. My team was excited for me but my boss behaved badly for those three weeks. Eh, no skin off my nose, but unfortunate.

Conversely, when DW gave her required two weeks notice this September, her boss (though surprised) was very gracious and congratulated her. The next day, her boss's boss called and asked her to stay two months rather than two weeks. My DW considered it for a day, asked for a couple concessions in return (i.e. she'd stay for 8 weeks but get paid for 9 and an extension of health insurance through the end of the year). They agreed and she finished up the day before Thanksgiving.

As other's have pointed out, you simply can't be certain of the reaction and you've got to do what's best for YOU and your family. Your work life is fleeting - "you do x and we pay you y." Don't mistake that for personal loyalty and/or personal obligation. Save those traits for your personal life.

 

[Gotadimple]

I'm almost 62 yo and will retire in 2019. I've been reading about folks who give up to 1 years notice of impending retirement.
I'm on good terms with my company (MegaCorp) and have gotten along well with everyone.

I've given the company my best for over 3 decades but, I recognize that the company would sell its grandmother if it could make a dollar so, am conflicted over the decision.

So ... should I give 2 weeks minimum or a longer heads up??

If you are not in a management position, and your company would probably outsource your position, give 2 weeks notice (or the minimum to get unused vacation pay etc. according to your employee handbook).

If there are extenuating circumstances and you would feel better giving a longer notice, do it - but understand you are a lame duck and will not be consulted during the longer notice period. While you have good business relationships within your company, they will move on much faster than you do. Don't prolong the leaving any longer than you need to. You need to move on as well.

- Rita

 

[FlyFisher]

My supervisor has known that I plan to retire when I turn 55 since I was 50. I still have a couple of years to go and there have been no issues. He often ask me about our pension program since he knows that I have a solid understanding of it. I work at a public university in a small office and have a fairly unique skill set so I was never concerned discussing my retirement plans.

 

[kgtest]

9 days. Tell them on a Monday afternoon meeting that you will be leaving shortly after your lunch on Friday.

 

[Milton]

[W]hen DW gave her required two weeks notice this September, her boss (though surprised) was very gracious and congratulated her. The next day, her boss's boss called and asked her to stay two months rather than two weeks. My DW considered it for a day, asked for a couple concessions in return (i.e. she'd stay for 8 weeks but get paid for 9 and an extension of health insurance through the end of the year). They agreed and she finished up the day before Thanksgiving.

What a great outcome. It reflects credit on both parties.

Employers are used to enjoying a serous power imbalance with their employees. It comes as a shock to many that they no longer have leverage over people who are retiring (i.e., not concerned about losing their jobs). A sensible employer who wishes to retain a retiring employee's services will agree to some inducements, as happened in your wife's case.

Your work life is fleeting - "you do x and we pay you y." Don't mistake that for personal loyalty and/or personal obligation. Save those traits for your personal life.

Absolutely right.

 

[Milton]

Anyone remember Calvin Rutstrum, outdoorsman and author? This is from his 1979 book A Wilderness Autobiography.

Through the winter into the spring breakup time, I worked at whatever employment paid the highest wages, giving my best effort which only tended to get me involved, because my employer did not always see fit to have me leave. Generally, I was offered a liberal bonus, the promise of quick promotion: all ensnaring attributes that the conventional world has set up to control life form womb to tomb.
But the challenge of the wild was too strong.
Reaction to my leaving employment periodically for wilderness travel and leisure was destined at times to become a serious difficulty. But I must not overlook the magnanimously spirited owners of industry who patted me on the back and with a bon voyage said, "When you come back from your trip, drop in, and we'll try to find something for you to do." I might sensibly forget those who lectured me severely. One such employer told me that I was "hitting below the belt" in leaving at a busy season. "Only a worthless bum would work just long enough to get a grubstake," he said. As a parting shot I quoted Thoreau, that only a fool devoted more time to industry than was necessary. He found no ready answer for Thoreau.
The worst was from an employer who rose from his swivel chair, leaned angrily over his desk, and gave me departing words as I was about to pass from his office. Shaking his fist, he said, "I'll blackball you so that you won't get a job in this city as long as you live!"
I turned in the doorway and answered, "You mean you will do this and expect to stay alive?" He froze, paused for a moment and threatened to call the police. I suggested he call the press too, for a good story on executive ability.

 

[bobandsherry]

Of course it isn't the majority situation; my point was "it all depends"--in response to an extreme blanket statement that no one should ever need to give more than 30 days notice unless they or the company failed at "cross training." And which followed that up by claiming that giving long notice is evidence of not being ready to retire, or of a weird need for some type of ego gratification.

As for "unique"? Nope; merely unusual.

I wouldn't consider a 4 person partnership specialized doctor group, which is what you described, as being a "company". Additionally, a true partnership would contain an exit strategy or conditions for partner to leave. I guess a sole proprietor would also need to plan more than 30 days ahead.

 

[Milton]

Presumably a sole proprietor would be well aware of his or her own retirement date ...

 

[Danmar]

I'd bet my next month's worth of dividends that what you outline is really unique and doesn't reflect the majority of users here.

Of course it doesn’t and neither do the majority of my posts. But isn’t that what makes this site fun? If we were all the same that would be scary.