Retiring after 33 Years, Severance?? - Page 4

ivey · ‎03-10-2010

Go with a formula. He has probably already figured that himself. 1 or 2 week's salary for every year. etc. You, as the manager, know what will be fair to him from the value of the law firm. But you also know your value from the working perspective.

Your boss has some big changes coming his way--he's now being absorbed into a new group--not deciding everything on his own. And you aren't going with him, so he's having to deal with a new person. That takes courage, too.

Depending on your age, factor in what is going to be done about medical and dental. That is a very big deal. I voluntarily retired a little early, and had to buy my own health insurance. It was a big expense until I went to Medicare. I knew it with my eyes wide open.

sidsmom · ‎11-25-2011

Be sure & treat this like a business transaction. It will be hard to separate the emotion since you've been w/ him for so long, but we will be dealing with a sizable amount of $$. Negotiate. You don't have to sign the 1st draft given to you. Get another attorney to look @ the paperwork given to you to make sure you don't miss anything before you sign.

You might have to make decisions w/ your severance...lump sum or payments. Also, you might be asked to sign paperwork saying all these changes are not due to age discrimination....just a heads up. All this paperwork is emotionless...but it should be....it's a business transaction dealing with your money! You earned it, girl!

lulu2 · ‎03-09-2010

If your boss were closing the office and not offering you another position, I would think a year's salary plus medical would be fair. The fact that he has offered you a position and you've turned it down, may lessen your severance.

missy1 · ‎03-10-2010

I don't think he legally owes you anything, if it is not written in a contract. I doubt you get a pension neither, because it was a small company. (not a union job, state job, or big company) I would be happy if he gives you any amount. I am sure he will do what is right. I am assuming you are getting SS soon. He is not going to pay her a week salary for each year. No way! I bet he will not write a contract (he is a lawyer) and will gift her. Will she be taxed? You will not get unemployment, if you quit. I wouldn't demand too much at this point.

KathyPet · ‎03-09-2010

Some companies give no,severance at all while large companies seem to,have a formal,written severance policy. the large company I worked for did have a formal,written policy of 1 week for every year but they did cap it at 24 weeks.

terrier3 · ‎03-10-2010

On 7/18/2014 sidsmom said:
Be sure & treat this like a business transaction. It will be hard to separate the emotion since you've been w/ him for so long, but we will be dealing with a sizable amount of $$. Negotiate. You don't have to sign the 1st draft given to you. Get another attorney to look @ the paperwork given to you to make sure you don't miss anything before you sign.

You might have to make decisions w/ your severance...lump sum or payments. Also, you might be asked to sign paperwork saying all these changes are not due to age discrimination....just a heads up. All this paperwork is emotionless...but it should be....it's a business transaction dealing with your money! You earned it, girl!

I usually don't respond to you, but here goes -

There is no business transaction involved here.
Her employer owes her nothing, not even unemployment insurance - she is turning down continued employment at his new firm. There is no written pension, 401K, nothing.

Out of the kindness of his heart, in light of her 33 years of faithful service, he said that they would "talk about it and come up with something."

There is nothing to negotiate.

I suggest she wait for HIM to make an offer - he may be more generous than she imagines.

The only thing she needs to do is say "thank you" and send him a nice card.

missy1 · ‎03-10-2010

On 7/18/2014 terrier3 said:
On 7/18/2014 sidsmom said:
Be sure & treat this like a business transaction. It will be hard to separate the emotion since you've been w/ him for so long, but we will be dealing with a sizable amount of $$. Negotiate. You don't have to sign the 1st draft given to you. Get another attorney to look @ the paperwork given to you to make sure you don't miss anything before you sign.

You might have to make decisions w/ your severance...lump sum or payments. Also, you might be asked to sign paperwork saying all these changes are not due to age discrimination....just a heads up. All this paperwork is emotionless...but it should be....it's a business transaction dealing with your money! You earned it, girl!

I usually don't respond to you, but here goes -

There is no business transaction involved here.
Her employer owes her nothing, not even unemployment insurance - she is turning down continued employment at his new firm. There is no written pension, 401K, nothing.

Out of the kindness of his heart, in light of her 33 years of faithful service, he said that they would "talk about it and come up with something."

There is nothing to negotiate.

I suggest she wait for HIM to make an offer - he may be more generous than she imagines.

The only thing she needs to do is say "thank you" and send him a nice card.

This is the truth. I hope he gives you something (OP) . I am not sure why you didn't have a contract drawn up, since it is a law firm. I hope you are not counting on this severence pay. (which really isn't) It would be called a gift or bonus of some sort.

KathyPet · ‎03-09-2010

On 7/18/2014 terrier3 said:
On 7/18/2014 sidsmom said:
Be sure & treat this like a business transaction. It will be hard to separate the emotion since you've been w/ him for so long, but we will be dealing with a sizable amount of $$. Negotiate. You don't have to sign the 1st draft given to you. Get another attorney to look @ the paperwork given to you to make sure you don't miss anything before you sign.

You might have to make decisions w/ your severance...lump sum or payments. Also, you might be asked to sign paperwork saying all these changes are not due to age discrimination....just a heads up. All this paperwork is emotionless...but it should be....it's a business transaction dealing with your money! You earned it, girl!

I usually don't respond to you, but here goes -

There is no business transaction involved here.
Her employer owes her nothing, not even unemployment insurance - she is turning down continued employment at his new firm. There is no written pension, 401K, nothing.

Out of the kindness of his heart, in light of her 33 years of faithful service, he said that they would "talk about it and come up with something."

There is nothing to negotiate.

I suggest she wait for HIM to make an offer - he may be more generous than she imagines.

The only thing she needs to do is say "thank you" and send him a nice card.

Absolutely correct. Legally she is owed nothing. if they have no written severance policy she is owed nothing. Even if there was a written policy on severance at the company it would not apply because she was offered a job at the new firm and she chose not to,accept it. She was not "laid off" so severance would not be applicable. Whatever her old boss chooses to give her can be considered a "bonus" for her years of service and is not negotiable.

esmerelda · ‎03-10-2010

So you aren't retiring. Another poster here is fond of saying she's retired from a couple of jobs when what she means is she quit. Words mean things. Using the right ones helps people understand the message. OP...good luck in the future.

*********************
Keepin' it real.

momma3gs · ‎03-26-2010

I totally agree with terrier's post #35. Anything she gets from her boss at this point is a gift in appreciation for her many years with him. Legally, unless she had an employment contract that stipulated a bonus formula at the time of retirement (which is highly unlikely in a small firm), she's not owed anything.

That being said, I hope her boss gives her a very generous and substantial gift, which she undoubtedly earned over 33 years. Happy retirement!