when is the best time to tell your boss that you are retiring?

[scrabbler1]

I had timed the departure so no unfinished projects would be left & I think that helped.
_B

This was a big reason behind the length of time I chose between my announced resignation and final date of employment.

I gave my notice a month in advance. However, because I was working only 2 days a week at the time, this gave me only 10 working days to finish the one project I had been working on for about 18 months. I had been stealthily getting some other, smaller stuff done in anticipation of giving my notice, to get it out of the way.

In those last 10 working days, I knew I'd have other things to take care of, such as an exit interview and other things relating to my ER. Most of it I did outside the office, such as completing documents relating to what I wanted to do with the various parts of my 401k/ESOP plan. I had a set of long, complicated instructions for the plan admin, but they were all followed properly.

I barely got that big project done on my last day, about 45 minutes before I left and never returned.

 

[Al in Ohio]

I think for me it was about 10-12 weeks before my retirement date.
Unfortunately it still wasn’t enough time for them to find my replacement. I consulted part time after my date to help train him.

 

[retire48in2018]

There are many threads of individuals asking.

Fundamentally, it’s about you, the company culture and being prepared to be walked out when you notify.

The answer is across a spectrum - closer one is to monster company (least notice possible) to intimate, fun family company (enough to find, hire and train replacement).

Understand, company in most situations can walk out/fire/layoff anyone on any day. Most companies long ago abandoned any sense of employee loyalty. Consider that in reciprocation - but most say 2 weeks minimum (or contract minimum).

I tried to give a year notice, but was walked out same day - but they gave significant severance package so I would not say what/why. (I would not do that). Ironically, by doing that, they lost the vast majority of functional people expertise - they began leaving as soon as they secured employment elsewhere. People realized it was not the family company anymore as a new mega company culture starting to emerge. It was not necessarily my exit, but it opened a few more eyes, and a cascade of voluntary exits started. I guess they understood the new culture was not liked, but were misguided in their attempt to manage discontent.

I am saying that to say - not one person would have thought that this company would walk someone out when they gave notice. Never happened before- walk someone out when person is giving notice - (not in 100 year history). I was prepared.


Be prepared. Not until then.

 

[ransil]

my plan was 2 weeks notice, but there was a layoff coming so at 6 weeks I was begging to be on the list. I did not make the list could have been cause I was already leaving or as they said the list was already made and not changing, who knows .

 

[Aerides]

This topic must have been discussed before but I could not find a post.

If you search on "notice" you'll find them.

Typical points:

1. Be prepared to be walked out the day you announce, no matter how much your boss likes you
2. Be under zero illusions that they value you and want you to stay longer - they don't, they value the complete headcount and want to push the issue of hiring down the road
3. If they want you to stay to train your replacement, see point 2, they will drag it out
4. Give no more notice than you must. If you want to dangle an extension, wait until they ask, and be ready to make sure you get paid generously for it. If you don't want to dangle, book a trip starting your last day.
5. Don't be surprised if people look at you different, dead-man-walking, etc.

There are far more stories of people regretting a long notice vs. a short one.

 

[Flieger]

Every year we do Succession planning, and part of that is "when do you think you will retire". Every year I have said 5 years or more. This past year I said 1-3 years. It lets them know it's coming, without being solid. I will tell them the last year I will work (ending in January so i get paid out bonuses and accruals) and allow replacement efforts.

Agree that not every company you can do this with, but i feel comfortable and it is has already been done a couple of other times this way.

 

[pacergal]

It depends, some places have contracts that specify.
Make sure you understand how end dates may affect pension or other payouts, health insurance coverage, etc.

My work required two weeks under contract, however HR and pension required 3 months.
Informally, my co-workers knew about a year before, but I gave formal notice to HR and my boss at 3 months.

 

[Mark2024]

If you search on "notice" you'll find them.

Typical points:

1. Be prepared to be walked out the day you announce, no matter how much your boss likes you
2. Be under zero illusions that they value you and want you to stay longer - they don't, they value the complete headcount and want to push the issue of hiring down the road
3. If they want you to stay to train your replacement, see point 2, they will drag it out
4. Give no more notice than you must. If you want to dangle an extension, wait until they ask, and be ready to make sure you get paid generously for it. If you don't want to dangle, book a trip starting your last day.
5. Don't be surprised if people look at you different, dead-man-walking, etc.

There are far more stories of people regretting a long notice vs. a short one.

Thanks

 

[Taco]

Fundamentally, it’s about you, the company culture and being prepared to be walked out when you notify.

This!

Company culture plays a big part. What have other people at your company done, and how were they treated?

I work at a company that still has a pension program. Management knows when you will "get your points" and will be full pension eligible. So it is no big secret when one's retirement is at least somewhat probable.
Advanced notice has not caused any issues, and most people do that. They are not treated any differently. It gives time to hire new people and cross-train.

 

[Car-Guy]

I always felt two weeks was fair under normal conditions... Where I worked, if they fired you, all's you'd get was two weeks severance... What's fair is fair....

I gave ~two months notice before I departed. Why? Well I was treated extremely well (pay/promotions) the last few years before I retired and "a smooth transition" of my job to others was my way of saying thanks.

 

[Gumby]

I formally filed my retirement paperwork 3 months before my end date. I get a pension and retiree healthcare, so they needed time to get that all straightened before I left. But the people I worked with had a fairly good idea that I would be leaving when I did. I never tried to hide the fact that my goal was to retire early. It also gave me sufficient time to turn over all my cases to other people and get them up to speed on them.

But for most people, I would advise the minimum time required, for all the reasons noted.

 

[big-papa]

This topic must have been discussed before but I could not find a post.

For all your FIRED people, when did you tell the boss? Two week notice or 6 months?

There seems to be a boat load of different opinions out there. I am leaning toward a two weeks notice with a conditioned " possible to extend" offering.

Depends on the boss. 15 months passed from the time I told my boss until the time I actually left. Told him I'd stay as long as needed to find and train my replacement. That took longer than expected. Then once the replacement was found and mostly trained, I requested a modest extension to best in the last RSU's that were vesting this year. It was a win-win for everybody involved.

Helps to have a very good working relationship with your boss.

Cheers.

 

[Route246]

I'm trying to figure out the same thing. I have been treated very well and have RSU left on the table. My first inclination is two weeks but that seems harsh so four weeks is more reasonable. Second, because my package has some fixed vesting dates whenever I do resign it will have specific end dates dialed in to reflect this.

"Effective <date> I resign my position...blah, blah, blah...and my final date of employment will be <date>."

This should lock dates in should any attempt to terminate earlier arise but in my case no reason to believe this, just covering the base.

BTW, I'm not decided on anything yet. Just thinking of some exit logistics.

I also plan to read the policies carefully regarding vesting for LOA and part-time employment. I am not averse to working part-time as i don't need my full wage at this point in my life so it would be mostly to stay a little engaged, vest RSU, receive great benefits and separate slowly as a part-timer.

I know others have done this and it works well for both the company and the part-time employee as it usually frees up a full-time replacement req in the process.

I think it depends on your situation. Reasonable and short is to protect yourself in the event you get some backlash. Some companies are like that. Mine was not

I was the Program Manager for a Spacecraft production program. I had years invested and in a situation where they couldn't just plug someone in. I gave them 6 months notice and then extended it twice from Sept 2021 to March 2022. I wanted a good transition for my team and the product and moved my date to support critical program needs. In return, my boss adjusted me to Part time when I transitioned out so I could double the length of my company vacation and sponsored health insurance.

Every situation is different. Some you need to protect yourself and other may be about leaving the group in good shape.

 

[Markola]

It probably depends on the role but do whatever it takes to ensure a good reference, just in case. Your future retired self might just surprise you by wanting a positive reference, whether for consulting, part time work or a complete failure (like me) back to full time for a while. Regardless, leaving smoothly is cheap insurance just in case.

 

[Aerides]

I always wonder why folks think they need to give more time, when if they were leaving for another role, another company, 2 weeks would be totally normal. Just because your reason is retirement doesn't make the impact of departure any different. The void left gets filled just as quickly (the analogy is pulling your hand our of a bucket of water).

I was once mortified when I took a lateral role, same company, and my old boss wanted a 6 week transition, which was unheard of in my company. My new boss was not pleased, and it was a challenge not to have that reflect on me for supposed lack of having good succession planning, and I basically did both jobs for a month.

Also, I would not have cared about burning bridges with my last boss, I had plenty before them, and colleagues, for any references I might have ever wanted. My bosses seemed to rotate every 18 months, either out of the company, or lateral, or promotions, and always with even less notice than a month.

 

[Markola]

+1 and in my repeated experience, most of the time, everyone ignores the date given with lots of advance notice anyway. They wait until the week before the person leaves, then panic, and usually they haven’t launched a replacement search.

2 weeks is usually fine. 3 to be very generous if you’re concerned for some reason, though you’ll then be a lame duck for 3 weeks instead of just 2.

 

[wmackey]

I'm guessing I was the exception to the rule. I was very up front with my intention to retire at a specific time starting about five years out. It became an office joke to swing by my cube and ask how many days I had left. At about 2 years I out stepped down from being a manager and took a role of coach/mentor (at the same pay).

 

[Yipper]

This is a great thread and even though there have been countless others on the same topic, it's very timely for me. My last day is going to be September 15th and I have been going back and forth on whether to let my boss know on 9/1 (two weeks) or 8/25 (three weeks)... i'm leaning towards 9/1. It's all i would give if I was leaving for another company so why different for retirement?

 

[Retired Expat]

I stayed 4 months at full salary. But immediately went to 3 days then 2 then 1 with some work from home. This was before work from home was even a thing…

 

[brett]

No right answer.

Very much depends on your position and on your financial parameters....

Bonus time, stock options, stock grants, retiring allowances, etc

In my case I never said a peep to anyone because I knew that golden handshakes were on the horizon. I waited them out for six months or so.

Nor did I want to miss out on any performance bonus money or stock option grants. Also needed eight months to cross over an age plus service DB enhancement milestone.

Used those few months wo wind down, plan what we wanted our early retirement and travel plans to look like. We took the time to finalize our plans, downsize our possessions, and get the house ready to sell. After all, why retire early just to have two hip replacements performed.

One guide might be....if your employer decided to terminate you for whatever reason how much notice would that employer give you?

One exec decided to extend his early retirement plans when it became necessary for him to have two hip replacements. In his words....better to have it on their dime while I am being paid then on my retirement time! He was very thankful that he too, never said a peep to anyone about his plans.

 

[rwdflynavy]

You should give as much notice as your contract requires and/or you want to. Just make sure that if you are asked to leave immediately, you are ready for that option.

 

[ls99]

In my case it was a day when boss was handing out crappy assignments which had nothing to do with maintaining and repair electric trains for public transport. Had been waiting for such an event with typed notice, which I carried in my pocket for many weeks.
At beginning of the meeting, pulled out this crumpled paper, signed and handed it to him.
The dropped jaws of all attendees were priceles. Yeah, they did get two more weeks of my time.

 

[GalaxyBoy]

Give just as much notice as they give employees they lay off. Or two weeks, which is two weeks longer.

 

[BruinBones]

When I was in the Navy, I had submitted my Release from Active Duty several months before my End of Obligated Service date, as required. Our Commanding Officer decided that anyone who was getting out would receive the lowest marks for their rank on their annual Fitness Report in order for others, who were staying in, to receive the higher marks, which made them look more favorable to promotion boards. He felt it was no benefit to give someone who was leaving a high grade, even if they were his highest performer.
As fate would have it, for personal reasons I decided it was better for me to sign on to stay for another few years while I sorted my life out. As a result, the low mark followed me for the rest of my career. As a mid-grade officer, I was constantly playing catch-up to achieve the next level of promotion (which I never gained before I retired with 20 years).

 

[HarveyS]

Well, my boss gave me zero notice when my position was eliminated.