My employer is offering an "early retirement" incentive.

[MindPilot]

I think I will take it. Frankly I'm gob-smacked at the amount of money they are willing to pay me to leave. (it is equivalent to about 2 year's salary) They will also pay my health coverage *fully* for a year and my monthly pension payment will be a little less than twice what it would be without the the incentive.

Should give me some breathing room to find other income sources (I will be the first to admit it: I really don't like to work.) but I could also find myself back at the same desk as contractor.

But what a big, sudden life-changing event! Here I was happily working (ok I already stated my opinion of work) away and now retirement is a few months away.

I am acutely aware that I am one of the very lucky ones. I could have been booted out the door with not so much as a handshake and I feel a bit guilty for getting such a good deal. on the other hand I have a skill set that is in demand; I've been a loyal and dedicated employee, planned well, saved and worked hard. Now I can reap the fruits of my labor--I guess.

[bigscott]

1. why feel guilty?

in the long run you are cheaper to the company off the books - even if they pay you an exorbitant sum as a contractor/consultant. I took a 50% pay cut to get a full time job from my contractor role. I needed the stability with a kid heading off to college.

enjoy some time off with your well deserved severance/incentive

peace

[demokatgurrl]

2. That sounds like a good deal to me.

My husband, who also hates to work, DREAMS about a buyout like that.

[Ilsa]

3. Congratulations! My father took a buyout like that from an

oil company. MAke sure your long term medical insurance is set, even for supplemental insurance when you reach Medicare age.

Good luck!

[MrMickeysMom]

4. Positive forces to you, MindPilot, however, you also know, I'm sure...

to examine how they are taking care of your post employment pension, and you probably also know that NOTHING is guaranteed in terms of employee loyalty.

Better to take the money, rid yourself of debt (if you've not already), hunker down and simplify. Then, do something that you love, even if it doesn't pay much.

All the best... MMM :hi:

[hedgehog]

5. Double check to make sure your family's health insurance is covered for the next few years,

then GRAB IT AND RUN!


Everyone we know who has taken this deal has been hired back to do the same work as a contractor. The real difference (aside from the money) is that they know they need you, you know that they know, and all of a sudden you get treated better!

[SmileyRose]

6. VERIFY THE PENSION FUND IS SOLVENT

This won't do you any good if the pension fund goes bankrupt. And they do. Otherwise

CONGRATULATIONS! :)

[tularetom]

7. Sounds like a good deal to me

You could engage in a game of chicken with them and see if you can force an even better deal out of them but you run the risk of having them pull the plug on their offer if you get too hard nosed about it.

I've always believed the best position to be in is where they want to get rid of you bad enough to pay you a lot of money to leave but not enough to take a chance on firing you. Congratulations on getting to such an enviable place.

[MindPilot]

8. Thanks everyone for all your support

I'm feeling better about the decision.

[ThomWV]

9. I got a chance to walk at 57 and it was the single smartest thing I have ever done in my life

I have not worked a day since other than I do the things I want to do.

[NashVegas]

10. Is There a No-Compete Clause?

That's something to watch out for if you don't intend to *retire* retire.

[guitar man]

11. two years?

hell, if they offered me two years pay where I am now, there would be a sucking sound as my ass departed this place. ;)

Hell, if I were you, I'd take it, if you don't, you could wind up leaving later with nothing.