Fixing to retire soon. (Nobody knows yet). What should I be doing to make sure I am getting what I am entitled to? Any tips? I am curious regarding bonus payout, un-used vacation days, expense reports, my rewards points, anything they try to zing you on when they close you out, etc. Things I should be doing now to prepare for the big day? If you give 2 weeks notice do they tell you "don't go back to work, we will pay you for the 2 weeks?" What about a 3-week notice? Is it best to wait until the new year or does it make any difference? 1st of the month versus last day of the month? Things I Do they let you buy the company car? Thanks in advance, - Detail Man
Just did this myself not too long ago. Firstly and foremost, see where you at with your retirement income. I assume you have a financial advisor and a plan. If you don't, you can still set one up. If you are entitled to a pension, start the process application about three months before you retire. The set-up takes time and a bit of paper work from you. Birth certificates, marriage licenses, etc copies will need to be submitted. There will be some choices on types of payout, too. T.Rowe Price will contact you as to what you want to do with your 401K. You can do nothing and leave it there. Transfer it to another plan. Withdrawals are subject to a 20% withholding for federal income tax. You can stay on the company health plan, but it is $$$$. Cobra is slightly less expensive, but does have a time limit. You may have a subsidy depending on your length of service and what legacy company you started with. Your car may or may not be offered to you for purchase. It may depend where the lease is at. I gave about three weeks notice and I was asked to keep working. Mostly I did my farewell tour. I did a final expense report a few days before my actual retirement date. I tried to avoid paying lunches or other big ticket items once I gave my notice. You are responsible for any residual charges on your AX. If you completed working through the end of the quarter you will be paid that bonus even if you are separated from the company at time of payout. I'm not sure if they pro-rate if you worked a month or two into the quarter. They key to all this is getting educated and well prepared. Good luck and happy retirement!
This is TURD, WHEN I NEW I WAS BEING FORCED OUT UP IN MILWAUKEE AT THt other company I LOADED UP ON GIFT CARDS FROM OFFICE SUPPLY STORES, BOUGHT HUNDEREDS OF GAS CANS, LOADED UP ON OFFICE SUPPLIES, MAXED OUT MY TOLL EZPASS AND HOARDED LUNCHES. W
Thanks friend. What month did you retire? Someone told me that if I stay past January, I can get one more 401k match from sanofi. True?
You are most welcome. I retired early January of this year. Made it through the cuts, but decided not to stay. I'm not sure about the 401K issue. I'd check with the plan administrator on this.
Could have retired 3 years ago but I liked it so i stayed. Now with this pull through baloney, micromanaging, etc., I am history. News flash... I don't care how great your coupons are. Soliqua is DOA without coverage. News flash... Basaglar is going to eat market share regardless of your coupons. Newsflash ... the sglt2/sglt1 blocker is dead in utero. I don't like the way this company is being run. It's an embarrassment to be affiliated with Sanofi. This is so not what I signed up for, hence it's time for me to fade. Good luck.
I hear ya'. I would have stayed a little longer if things hadn't gotten so much worse. The steady paychecks and benefits are nice. Build up the retirement savings a bit more. I've ridden through so many nasty storms and my heart was not in this one. It feels weird to pull the plug at first, but wait until the stress goes away. You'll love it. Retire now and enjoy life. Tomorrow is never promised. Godspeed.
No they won't. This is a new world one where corporations feel no obligation to their employees. I would suggest that they cordoned off the over 50 crowd into the worst territories in the company with the longest drives and the least potential exactly because they have no intention of paying any of the older people severance. And right on cue we are dropping like flies. I am next in line to go. What a miserable situation this is. Frankly, if I had to sit down and design a perfect hell for myself this situation would be it. Can't stay here but I am going to have to pay for my own exit out of savings. And the pension I get from my legacy situation is roughly enough after taxes to pay the water bill. I won't even get unemployment because I am quitting and I don't feel I have a choice but to quit. This was the nastiest orchestration of bullshit I have seen in my long career. I wish a pox upon leadership. A nasty fucking pox.
Your guess is as good as mine. In headcount reduction, voluntary severance seems to be the exception rather than the rule. I've only seen it twice in my long career. Even though things are rough now it is difficult to predict what kind of realignments are in store. Only you know how much you can stand and when enough is enough.
