My job just sent out an email offering a volunteer separation package. I work for a large company and it's been having financial difficulty for a time. I'm seriously thinking about taking it.
I was planning on retiring at 55 at the end of 2016 anyway.
Offer:
Cons:
If I submit the paper and the application is accepted it, I cannot change my mind. (ok maybe not a con)
You will be notified by 11/15 whether your application is accepted. If it is the company will stop making the match on your 401K. they currently match us dollar for dollar up to 9%
If you don't accept the offer and they have layoffs and you are picked, you get 1 week severance pay, no company paid coverage.
So my plan is to submit application requesting 3/31 has my final day, get the 6 months severance which would take my to 9/31 with pay and starting my retirement 3 months early
yea or nay?
I was planning on retiring at 55 at the end of 2016 anyway.
Offer:
- 6 months salary
- 3 months paid cobra
- employees must submit paperwork accepting offer by 10/31. can continue working to work until 3/31. last day must be on or before 3/31
- company has to approve the request, if you are deemed essential you can be turned down.
Cons:
If I submit the paper and the application is accepted it, I cannot change my mind. (ok maybe not a con)
You will be notified by 11/15 whether your application is accepted. If it is the company will stop making the match on your 401K. they currently match us dollar for dollar up to 9%
If you don't accept the offer and they have layoffs and you are picked, you get 1 week severance pay, no company paid coverage.
So my plan is to submit application requesting 3/31 has my final day, get the 6 months severance which would take my to 9/31 with pay and starting my retirement 3 months early
yea or nay?