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Decision Made For You
Old 10-15-2020, 08:46 PM   #1
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Decision Made For You

Has anyone been planning their retirement and had the date moved by company decision. That's my situation. My timeline was 3-5 months from now but that decision was move to this week by my company. The package will basically take me to what I would have made in 5 months. I'm both happy that's its here, a little scared, and a little pissed that it was not my decision.

Anyone else go through this.
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Old 10-15-2020, 09:11 PM   #2
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https://www.early-retirement.org/for...ss-106017.html is another current thread by someone who looks headed for this type of situation.

I had something a little like that, but I was more than ready to leave so I let them kick me out the door when the time came.

As for you, I would take the win of getting a package that gives you 5 extra months of freedom. I understand the being pissed reaction, but I don't think it'll do you any good to dwell on it. If you're concerned about what other people think, you should be able to spin it as your company offering you a package that was too good to turn down. Nobody needs to know that you didn't really have a choice. Enjoy your freedom!
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Old 10-15-2020, 09:14 PM   #3
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Trust me, once you are gone and free you won't care and shortly after won't even remember. Start living your new life now.
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Old 10-15-2020, 11:23 PM   #4
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Quote:
Originally Posted by GATime View Post
Has anyone been planning their retirement and had the date moved by company decision. That's my situation. My timeline was 3-5 months from now but that decision was move to this week by my company. The package will basically take me to what I would have made in 5 months. I'm both happy that's its here, a little scared, and a little pissed that it was not my decision.

Anyone else go through this.
I had a similar situation...our company was downsizing (2012), so I asked to be included since I was ready to FIRE. My boss said ok...told me I'd hear from HR about it. I thought they would let me know in advance, but they came to my desk, gave me 30 minutes to get my belongings, and walked me out of the building lol.

I was a bit upset for about an hour, then I realized I got what I wanted...9 months severance, health benefits for 9 months, and FREEDOM!

I'm sure you'll feel better after thinking about it. Congrats!
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Old 10-16-2020, 12:52 AM   #5
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I could only wish my company would have offered to speed up my retirement date. It wasn't like I wasn't trying either. Ha! I probably was quite the ass the last 3 months or so. Just jokes and such, like, "I'd tell you about (this or that), but I don't have the time." or I'd come into work dressed a bit bohemian with a Hawaiian shirt or something.

Congrats on your retirement and remember to just have FUN! You've earned it, so get busy.
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Old 10-16-2020, 02:21 AM   #6
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I am actually going through this right now. My boss (kind of new) is trying desperately to get rid of me but since I am a long term employee, and others know what I have done, they are keeping me part time for a while. Then I will be kicked out.

Very mixed feelings but the job they expect done is not really possible so happy someone else will have those goals.
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Old 10-16-2020, 05:01 AM   #7
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I understand being a bit unhappy with how it happened.

You were planning to retire in about 3-5 months anyway. They cut you lose now and give you 5 month's worth of pay.

If you would have retired in 5 months, the money is the same (5 months of pay) and you benefit from 5 additional months of freedom. If you would have retired in 3 months, the money is better (5 months of pay instead of 3 months of pay) and you benefit from 3 additional months of freedom. Either of these scenarios sounds like a win for you.

Enjoy it!
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Old 10-16-2020, 05:34 AM   #8
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Trust me, once you are gone and free you won't care and shortly after won't even remember. Start living your new life now.
+1 Volunteered for a package, but then couldn't find work, so effectively the same result in the end. Bothered me at first, but not now.
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Old 10-16-2020, 05:41 AM   #9
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I understand being a bit unhappy with how it happened.

You were planning to retire in about 3-5 months anyway. They cut you lose now and give you 5 month's worth of pay.

If you would have retired in 5 months, the money is the same (5 months of pay) and you benefit from 5 additional months of freedom. If you would have retired in 3 months, the money is better (5 months of pay instead of 3 months of pay) and you benefit from 3 additional months of freedom. Either of these scenarios sounds like a win for you.

Enjoy it!
Yep, that's what the wife was reminding me and I was at the point of having my resignation letter already written in my head. I'll get killed on taxes this year because payout will be lump sum and Healthcare is the pain. The ACA plans look terrible for GA and with all the uncertainly on what will be there, I'm leaning towards just doing Cobra and keep my current Plan. It will be expensive, but will give us until next year to figure out Healthcare.
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Old 10-16-2020, 05:44 AM   #10
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Quote:
Originally Posted by GATime View Post
Has anyone been planning their retirement and had the date moved by company decision. That's my situation. My timeline was 3-5 months from now but that decision was move to this week by my company. The package will basically take me to what I would have made in 5 months. I'm both happy that's its here, a little scared, and a little pissed that it was not my decision.

Anyone else go through this.
Happens all the time. Count your blessings and get over your annoyance that it wasn't your decision and enjoy the extra 3-5 months.
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Old 10-16-2020, 06:30 AM   #11
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I wanted to pull the trigger March of 2020. A new CEO came in July of the previous year, so I thought I'd push my wants aggressively. We agreed that I'd leave with a package 6 months before my target date. The package covered more than enough payments plus some. I was happy to leave work. When I got home, I told DW about it. We celebrated with a nice dinner --- pre-covid.
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Old 10-16-2020, 06:34 AM   #12
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Your are a lucky man!
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Old 10-16-2020, 06:36 AM   #13
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That sounds good to me.

Enjoy life!
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Hoping to get out around September 1, 2022... I hope, I hope, I hope. Until then off to work I go....
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Old 10-16-2020, 06:42 AM   #14
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Yes, but kinda different:

I was ready to ER but heard that RIF's might be coming. So I started angling for one. Not "i'm ready to retire gimme" because that rarely works... but more "i'm not happy and I don't see career growth you can let me go the easy way" which was risky. Sure enough, the wind blew right and 3 months later there were location reductions which put me in a place of having to relocate or take a package.

However, that took another 9 months to play out, so I ended up RE'ing almost a year later than when I was ready. On paper that was great - my package was 60 weeks + medical, so, that, plus the extra year waiting really put us over the top in our comfort zone.

Still, even with all that, a little part of me was "harrummpph... they were so willing to let me go....but my value!..." and yeah I told myself to get over that super fast.
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Old 10-16-2020, 06:50 AM   #15
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Yes, but kinda different:
Still, even with all that, a little part of me was "harrummpph... they were so willing to let me go....but my value!..." and yeah I told myself to get over that super fast.
+

I felt that as well with thoughts such as "How dare they not give me a promotion? I will show them!" But then, if I did, I'd need to work more...
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Old 10-16-2020, 10:29 AM   #16
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I can understand how you feel, since we all want to make our own decisions in life. However, I would count my blessings that they are giving you 5 months of freedom and paying you for 5 months of not working. Win, win. Enjoy your new freedom and don't look back.
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Old 10-16-2020, 11:05 AM   #17
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I had a similar situation - ready to pull the plug in a couple of months when a mysterious meeting was called. In walked the division manager, my boss, and (uh oh) a HR drone. Our whole design center was shuttered and everyone was out the same day.

Took a week or so, but I got over the upset about the way the whole thing was handled - long term professional employees were treated as though we were suddenly going to go on a rampage and destroy things. Financially, we were treated well, but the lack of respect still grates on me.

1.5 years in, I realize that this was all for the best. The kick in the rear made me get out and move along with life. This has been better for all concerned.
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Old 10-16-2020, 12:01 PM   #18
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I was hoping for a RIF just before retiring. It would be getting paid a little more for not doing any work. Doesn't get much better than that.

My Megacorp shut down our business unit, but a few months earlier than I was hoping for. It covered something like 3 months out of the 6 months I wanted to wait for. So I retired a little earlier than planned, with a few less dollars than planned. I was comfortable enough with our safety margin not to worry about it, so I never thought I had to work a little more.

I did end up working part time, though more for something interesting to do than to make up a budget deficit. And DW didn't feel like retiring for another five years, so nothing really worked as planned. But everything did work out just fine and we're happy to have successfully retired.
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Old 10-16-2020, 12:20 PM   #19
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I let the company decide.

I was ready to go, prepared to go but I wanted a package. It came about 10 months later. I was prepared to work a little longer but was ecstatic when the package arrived.

I was very fortunate. Worked for a good company that paid very well, had good benefits, and a good working environment. I was still happy to walk away though.
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Old 10-16-2020, 03:55 PM   #20
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Quote:
Originally Posted by GATime View Post
Has anyone been planning their retirement and had the date moved by company decision. That's my situation. My timeline was 3-5 months from now but that decision was move to this week by my company. The package will basically take me to what I would have made in 5 months. I'm both happy that's its here, a little scared, and a little pissed that it was not my decision.

Anyone else go through this.
You are Lucky as Street said.

Compared to me, my last employee job, I was not considering retiring, liked my job and the people and they laid me off with no warning and NO package.

You are lucky to get 5 months free pay and leave now.
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