Is there a notice period to retire under the rule of 60?
Will a bonus be paid if one retires at the end of the year?
5 replies (most recent on top)
I called the HR Helpline on this last month (not due to RTO, just ready to go)
Yearend bonus: Must be employed by the company and remain in good standing THROUGH the PAYABLE date, usually Feb. 15 or 28. Does not matter if you work thru Dec. 31 or even Feb. 14.
While you can technically give 2 weeks notice to retire, it is general practice to give at least 30 days to allow for smooth transition and remain in good standing. From what I've seen with colleagues who retired this year, there's also quite a lot of paperwork (!) and decisions you need to make involved, so you will likely need the extra time.
If you retire amicably, then RSUs/Options continue to vest "per their schedule".
They told me to look at the Agreement for EACH award. (PDF is in the place where you check your balance) . Some vest "immediately at retirement or termination due to reduction in force, merger, acquisition, etc." while others continue to vest "per their vesting schedule."
It's a pain to read the doc for each, but it is in there. If you have accumulated many over the years and the immediate vesting will cause a large taxable event, then I have heard you can request they vest over two years. If you are terminated "for cause", all awards are forfeited.
Hope this helps.
I actually think its possible. I know typically you can keep stock grants that normally you would lose. You would need to call hr and i believe they would give you a solid answer on this question
Always stick around for the bonus, no matter how little it is.
If you leave before the bonus is paid then you don’t get the bonus.
People keep asking that. Why is that so hard?
I gave two weeks notice, but I waited until after bonus was paid.