sever or stay

I realize what works for one may not work for another but I settled comfortably into an individual contributor role for the last 15 years after mega eliminated my manager job (30 employees). I have loved not being part of adult daycare and especially not doing performance reviews. Good luck with whatever you decide to do.
 
There is many a supervisor who would love an individual contributor position, particularly with a save pay agreement.

I agree with the OP's decision but network so that you won't find yourself in this position again. Who knows, you might get an attractive offer that makes it worth your time to change employers. The other advantage of networking is that when you do retire those relationships can develop into social relationships. Work is both an economic and social activity. We concentrate here on the economic portion but to become separated from former work colleagues can be very disconcerting.
 
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