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advance notice of retirement
Old 02-07-2021, 03:27 PM   #1
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advance notice of retirement

I am only required to give 30 days' advance notice of retirement, but I have been with my employer for a long time, I have generally been treated very well, and the employer would certainly benefit from having more notice. So I am thinking that I would give about 6 months' notice. I have no concern they would terminate me when I give the notice (they would never do that, and on the one-in-a-million chance that I'm wrong about that, I would not care). Other than that, what might I not be thinking of? Are there reasons why I should not give, say,, 6 months' notice? I can't think of any, but maybe there's something I'm not thinking of?
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Old 02-07-2021, 03:40 PM   #2
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Generally a bad decision in my opinion.

You need to understand that if the shoe were on the other foot, employer would give you the minimum notice possible - could even be a Friday pink slip telling you not to come to work on Monday. Nearly all employment these days is "free will", which means employee can quit/resign/retire at any time for any reason or no reason at all, and employer can terminate at any time for any reason or no reason at all.

Also realize that no employee is irreplaceable. We all love to think that we have very specialized knowledge, are top performers, and employer would be in a terrible bind if we resigned with minimal notice. Get over that line of thinking immediately. We all are very good at what we do. Likewise, there are others who could fill our shoes. Maybe not immediately, but over time, and employer would roll with it and do just fine.

So, if you're truly concerned about employers well-being, give 30 days or less (I'd suggest no more than 2 weeks), offer to document what you do and are doing so your replacement has something to work from and get up to speed. Giving more than 30 days serves no good purpose, other than making yourself feel good. Between 30 days and 6 months, there's potential for employer to make your life difficult...they could throw extra work at you, expect more of you, or even terminate you to avoid paying you for another 6 months.

Be sure that you are sure of what you do and the reason for doing it. Again, if the shoe were on the other foot, employer would not do the same for you.
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Old 02-07-2021, 03:45 PM   #3
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Since my MC didn't have a retirement plan, I was only bound by law, which was "at will," meaning my notice could be 1 minute.

Instead I gave a few months.

It was the worst decision I ever made. I'd never do that again. I would give the courtesy 2 weeks in my case. Since you are bound by 30 days, keep it at that. It is OK. Trust us.
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Old 02-07-2021, 03:47 PM   #4
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You pointed out one of the biggest concerns - that they let you go at the moment you notify them. You say you're okay with that so that isn't a concern. Beyond that, I'd look at benefits potentially lost. If you give notice in July for a retirement in January, will you miss out on bonuses if they immediately terminate you? Situations like that are what would concern me enough that if they could come into play, I'd just do the 30 days required and be done with it.

Also, you could give 30 days and then let them know that you'd stay on for a couple months if it would help. That would put you in a stronger position if they actually need you for more than 30 days.
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Old 02-07-2021, 03:49 PM   #5
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I am only required to give 30 days' advance notice of retirement, but I have been with my employer for a long time, I have generally been treated very well, and the employer would certainly benefit from having more notice. So I am thinking that I would give about 6 months' notice. I have no concern they would terminate me when I give the notice (they would never do that, and on the one-in-a-million chance that I'm wrong about that, I would not care). Other than that, what might I not be thinking of? Are there reasons why I should not give, say,, 6 months' notice? I can't think of any, but maybe there's something I'm not thinking of?
Before I retired, I w#rked for my employer for 25.5 years. I cannot tell you how many times over the last several years of my employment they did things we all said they would never do. Lesson learned (the hard way for some).

This is not about what will benefit the employer. This is about what is best for you.

I would give the minimum you are required to give - 30 days.
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Old 02-07-2021, 03:52 PM   #6
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Quote:
Originally Posted by medved View Post
I am only required to give 30 days' advance notice of retirement, but I have been with my employer for a long time, I have generally been treated very well, and the employer would certainly benefit from having more notice. So I am thinking that I would give about 6 months' notice. I have no concern they would terminate me when I give the notice (they would never do that, and on the one-in-a-million chance that I'm wrong about that, I would not care). Other than that, what might I not be thinking of? Are there reasons why I should not give, say,, 6 months' notice? I can't think of any, but maybe there's something I'm not thinking of?
I'm definitely the outlier on these things.

I think what you outlined makes sense. I was in a similar situation... while I had only been there 13 years, I was a valued employee, they had treated me very well and I had a very good relationship with my practice leader.

I told him that I was retiring (in my case technically resigning since I didn't have the combination of age/service to be a retiree) and that I wanted to work with the firm to agree on a date that we would both be happy with. About 5 phone calls later to key constituents we had decided a date that was a few months away that everyone was happy with.
though
I wound down my then current projects and didn't take on any new projects unless they were quick hits... so I was pretty slow that last month... but they didn't care.

For my next to last employer I told them I was leaving in April and didn't leave until August... so I was a lame duck for 5 months... at their request. For 4 of those 5 months only the CEO and COO knew that I was a lame duck.
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Old 02-07-2021, 03:54 PM   #7
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Originally Posted by medved View Post
I am only required to give 30 days' advance notice of retirement, but I have been with my employer for a long time, I have generally been treated very well, and the employer would certainly benefit from having more notice. So I am thinking that I would give about 6 months' notice. I have no concern they would terminate me when I give the notice (they would never do that, and on the one-in-a-million chance that I'm wrong about that, I would not care). Other than that, what might I not be thinking of? Are there reasons why I should not give, say,, 6 months' notice? I can't think of any, but maybe there's something I'm not thinking of?
I am contemplating the same thing, but...

I am having a house built out of state so I am thinking of giving my notice in May when I close on the house and work remotely until the end of the year. I have been with the company for more than 30 years so I want to give them plenty of time and I am hoping they buy me out near the end.

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Old 02-07-2021, 04:00 PM   #8
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^^^ Why would they buy you out if its apparent that you are already leaving?
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Old 02-07-2021, 04:00 PM   #9
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I'm going to differ with most other replies. I agree that it is a decision about you, but it ALSO likely affects your employer, your customers, your co-workers, etc.
I was at about 25 years with my megacorp and I never felt mistreated by them. I worked hard and was paid well for my work. Were there things that I wish would have been handled differently (especially during the two major merger we endured)? Yes! But overall I felt they were a good employer. Accordingly, I gave about 3 months notice, mostly to give my direct boss the opportunity to figure out how to replace me. I went at age 56, so it took him by surprise. I have absolutely no regrets. Everyone acted professionally, I completed the 3 months and parted on excellent terms.
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Old 02-07-2021, 04:01 PM   #10
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As pb4uski correctly notes a lot depends on the employer and the circumstances. When I retired I also gave about six months notice. I was, in fact, difficult to replace as even within that employer (of over 1200 people) only two had my certifications and I was one of them. That, and neither party had any ill feelings toward the other, and simply within my own ethical standards one does not just up and leave in the middle of a case.

The notice that I gave provided a job opening for someone else to get in there, earn the certifications needed before I retired, and gradually take over my duties with no muss and no fuss. I saw no downside to that.
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Old 02-07-2021, 04:04 PM   #11
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^^^ Why would they buy you out if its apparent that you are already leaving?
To get me to leave a little early.
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Old 02-07-2021, 04:07 PM   #12
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One of the downsides isn't financial, it's psychological. No matter your role, you will be "less than" by the end, especially those final weeks, even more so after your replacement comes on board. You'll be excluded from projects, meetings, left off email threads, because...well you won't be there much longer. It can be a bit of a dead-man-walking thing, especially if your corporate culture is fast moving.

Better to go out on a high note. Shorter notice, leave on top before you get shoved aside and someone starts thinking "how much longer is he gonna be here?"
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Old 02-07-2021, 04:08 PM   #13
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To get me to leave a little early.
They get you to leave early by telling you not to come to work tomorrow. They owe you nothing.

If you are looking for a buyout/severance, then you don't say anything until the very last minute and hope that at some point between today and the date you give notice, some "event" occurs which gives them incentive to buy you out.
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Old 02-07-2021, 04:11 PM   #14
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....I went at age 56, so it took him by surprise. ...
I went at 56 too. When I was 50 my boss and I were having breakfast together... just the two of us... he knew that I was retirement minded and casually asked when I planned to retire... it was obvious to me that the question was more as a friend and less as a boss so I didn't mind the question at all. I replied... eh, I dunno, sometime in the next zero to 5 years He just about choked on his orange juice and we had a good laugh.

So when I actually did retire 6 years later he shouldn't have been suprised.

Also, for a couple of out last annual plan sessions there was a question on the form about where do you see yourself in 3-5 years and I not totally kiddingly told him... retired! and then we'd put down some BS that would pass muster with HR.
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Old 02-07-2021, 04:14 PM   #15
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One of the downsides isn't financial, it's psychological. No matter your role, you will be "less than" by the end, especially those final weeks, even more so after your replacement comes on board. You'll be excluded from projects, meetings, left off email threads, because...well you won't be there much longer. It can be a bit of a dead-man-walking thing, especially if your corporate culture is fast moving.
There is a flip side to that. In my case, I found that to be very unique, even entertaining and relaxing, as in the sense of "all these bombs dropping all around us" and I knew that I was totally immune because I wasn't going to have to deal with it.
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Old 02-07-2021, 04:29 PM   #16
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One of the downsides isn't financial, it's psychological. No matter your role, you will be "less than" by the end, especially those final weeks, even more so after your replacement comes on board. You'll be excluded from projects, meetings, left off email threads, because...well you won't be there much longer. It can be a bit of a dead-man-walking thing, especially if your corporate culture is fast moving.

Better to go out on a high note. Shorter notice, leave on top before you get shoved aside and someone starts thinking "how much longer is he gonna be here?"
My situation was the opposite. I gave 4 months notice and the phone rang off the hook. Please can you do this and that and the travel was insane. Whatever you want. Take your wife with you and enjoy the last few trips. Total BS. They just wanted to milk the last contribution out of me. I wanted to end on a high note but looking back it really wasn't worth it. I'm sure after 5 years out most don't even remember my name. If there were a next time it would be 2 weeks and out.
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Old 02-07-2021, 04:39 PM   #17
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Tough decisionsógauging the corporate culture against openness and financial safety. I am struggling with this a bit as well.

I plan to have an honest conversation with my supervisor at about six months prior to my intended retirement date ó not that I am retiring but around the possibility and who we might consider (or should begin grooming) to replace me. I donít want to completely surprise management when I announce I am leaving, and I care enough about my staff not to leave them struggling when I leave.

At two or three months ahead of my chosen date, I will announce, which should give ample time to conduct a search and interviews to replace me.

I think this is fair to the company, my team, and to me, and is low to zero risk (in my companyís culture) to go poorly for me.
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Old 02-07-2021, 04:44 PM   #18
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"required 30 days"?
What happens if you only give 2 minutes notice?
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Old 02-07-2021, 04:44 PM   #19
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I gave three months notice and announced plans to use three weeks of vacation during that time. I had coworker friends that I didnít want to leave burdened with a sudden departure, so the time gave management time to hire my replacement and allow me to train them. If they had decided to part ways that day I gave notice, I would have been fine with it. Two of my teammates decided to follow me out the door right after I left.
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Old 02-07-2021, 04:50 PM   #20
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"required 30 days"?
What happens if you only give 2 minutes notice?
I would be breaching a contract. I doubt they would sue me for it, but I would not want to take the chance. (And in any event, it strikes me as unethical to promise to give at least 30 days' notice and then renege on that promise -- especially since the company abided by its side of the bargain).
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