I first heard this proposed about 35 years ago, during a downturn in my firm’s industry.
Nothing new, or to panic about.
I took an offer like this from Bell.One years pay.I was planning on retiring a year down the road any who.
Financial firms can do so much more with digital these days and most realize some of the older folks are just coasting so offer them some $$ to hit the bricks.If they come back on board as a sub good for them.
I don’t think it has any refection on the strength of TIAA to pay out pensions.could be wrong