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Trusted Contributor
Posts: 1,396
Registered: ‎05-22-2010

Retirement - How Much Notice?

Not this June, but next June I'll be 65 and hope to retire then once eligible for Medicare.  How much notice do I give my employer?

 

Currently there are 3 of us in our dept.  One has been doing the same job as me for over 40 years, the other is just beginning to learn.  I would estimate it takes about 1 year to train someone that has no prior experience.  If they hire someone from the outside that has done similar work, I would estimate about 3 months for them to get comfortable with our procedures, etc.  

 

The employee that has been with the company for 40 years, gets paid approximately $14,000 a year more than me, but has LESS responsibilities than myself.  (She was a supervisor and when they eliminated the position she kept her supervisor salary). 

 

When I  leave they will still have "her", and the person that this year has just started learning. 

 

My supervisor is nice, but I'm not a real happy camper that the other employee gets paid more than me, and anything that is more difficult, he assigns to me.  I don't know how to put it, but she was at one time super intelligent, but the last 3 years - definitely not so much! I believe she is on warning due to errors/production issues.

 

I was thinking of giving 3-4 months notice. What do you think - too much, not enough, etc?

 

 

 

 

 

Honored Contributor
Posts: 60,132
Registered: ‎03-10-2010

Re: Retirement - How Much Notice?

Give your notice at your convenience and not that of the company, look out for #1.  If you announce it too early they may invite you to leave immediately.  They'll survive without you.  I'd say about one month before your intended final day and no sooner.

New Mexico☀️Land Of Enchantment
Honored Contributor
Posts: 17,037
Registered: ‎03-09-2010

Re: Retirement - How Much Notice?

I work for a Fortune 500 company and while there is no time limit of giving your retirement notice, they would appreciate 3 months....You don't have to, and some do and some don't.....I don't think I would give more than a 3 month notice for sure!

Respected Contributor
Posts: 3,646
Registered: ‎03-19-2010

Re: Retirement - How Much Notice?

[ Edited ]

@BunSnoop   How long have you been with the company?  What level are you in the company?  How  happy are you with the company and how have they treated you?   Are you with a company who will let you go as soon as you give notice based on security reasons or just policy?  There are so many factors.

People say you need to give at least 2 weeks notice, but if you have a lot of responsibility and are at a higher level,  I believe it should be more.  You are being very generous and your company should be very appreciative. 

  I gave 6 mos notice to my prior employer for some of the reasons you mention and I trusted them not to let me go,  even though they typically had a history of doing so.  In my case I spoke directly to the President and owner of the company.   I was moving out of state and not retiring.

 

Trusted Contributor
Posts: 1,703
Registered: ‎10-22-2018

Re: Retirement - How Much Notice?

strongly agree with @Kachina624 . Once you give your notice, your nice, comfy work world changes. 

Respected Contributor
Posts: 4,757
Registered: ‎05-27-2015

Re: Retirement - How Much Notice?

@BunSnoop  Reflecting on what other posters have said, it does depend on how long you have been there and the uniqueness of your responsibilities. Also, do you care about the company and the employees who remain? Before Covid, perhaps 3 or 4 months would have been plenty of time for most positions, but these days new applicants are few and far between. I retired just before Covid hit. I was the office coordinator and personal assistant to the CEO and gave them 9 months notice. It wasn't a surprise, because I was at retirement age. It took them two years to find a suitable replacement. That doesn't say as much about me as it does about the lack of qualified applicants. I would give them as much time as you can.

Esteemed Contributor
Posts: 6,944
Registered: ‎02-07-2011

Re: Retirement - How Much Notice?

At the most, a month.  2 weeks notices is the standard for leaving a job, isn't it??  IMO, a month is more than enough, certainly not 3 or 4 and I would make no mention of my intention to retire,

 

Trusted Contributor
Posts: 1,184
Registered: ‎03-13-2010

Re: Retirement - How Much Notice?

What have others donein your company at retirement time?

 

Today, with the tight job martket, you MIGHT have a little more assurance that they won't let you go immediately, which is thier right of course.

 

Only give notice if you are fully prepared if they say "OK We'll help you clean out your desk and locker ...and we'll escort you to your car....."

 

ANother way to think of it is...How much "notice' would they give YOU if they wanted to let you go?

 

 

Unless you have a contract that says otherwise, and, if you work in an "At will" state where they CAN let you go for any reason, the ball is in thier court.

 

Whatever you do, do NOT delude yourself into thinking they will miss you, they need you, the place will collapse without you. WILL NOT HAPPEN....hasn't happened yet ( right?)

 

Just think....when others have left in your company, how many people said, "Wish Bill was still here....the company would run so much better with him!!!!"

 

Unfortunately, reality says they will forget you as soon as your seat is cold. Not mean, just realistic. Work life goes on for those who still work there.....

 

So make sure YOU are ready.

 

With luck, they will let you stay for three months, a year, whatever.

 

But don't count on it!!!

 

 

If you get an annual raise , make sure you work long enough to qualify for it.

 

Also, fully fund your 401K or IRA before you leave because once you don't have earned income, you cannot add to those retirement accounts.

 

Get your covered dental and medical stuff done too before you leave.

 

 

 

Good Luck!

Honored Contributor
Posts: 28,291
Registered: ‎03-10-2010

Re: Retirement - How Much Notice?

The minute you give notice you are basically gone at that point.  So consider that and if it will be a problem, give 3 weeks and leave.  

 

I managed to avoid the dreaded retirement party!  Woman Very Happy

Honored Contributor
Posts: 26,816
Registered: ‎05-10-2010

Re: Retirement - How Much Notice?

If you aren't in management, if you aren't a supervisor, 3 months is too much time.  If you have a company pension or retirement plan, ask your Human Relations department how much time they need to process your benefits.  If you don't have a retirement plan to consider, I think 4 weeks is sufficient.  I retired a couple of months ago, I managed a staff of 20 and no one else was trained to do some of what I did.  HR suggested I give 6 weeks notice, I gave 8 because I wanted to give my department time for a smooth transition.  They did nothing for 6 weeks and went into panic mode for my last two weeks.    When you announce plans all that "stuff" you talked about should not be a factor.  It's all irrevant.