Posted on 08/23/2020 2:43:28 PM PDT by rintintin
More and more Americans are being given the option to retire early due to the economic setbacks of the coronavirus pandemic, FOX Business’ Gerri Willis told “FOX News Rundown.”
“This is fascinating. These numbers are sky-high,” she said on the daily podcast. “We didn't really understand the number of people that were being offered early retirement. And it's still not entirely clear. But what is clear is that there is a greater proportion of people going into retirement than we thought.”
Willis said younger Americans in their 40s and 50s are being offered early retirement since so many industries like hospitality, retail and restaurants can no longer afford payroll.
(Excerpt) Read more at foxbusiness.com ...
Or is this like an offer you can’t refuse?
Since most jobs no longer offer retirement plans beyond 401Ks, what is the benefit of early retirement over you’re fired>? Semantics?
I would probably except,,,
.
Do they dangle a Tasty little cash incentive???
What are those folks going to do for health insurance?
“Does “offered” early retirement mean you’re free to decline the “offer”?”
Yes.
But then later they may simply be laid off. So it’s a gamble.
About the only difference is that if you have any unvested stock options, it can now be all yours and you can pay the government 35% of it.
You get COBRA, a severance plan based on years of service and rank, and your 401K.
Yeah you can’t refuse.
Article has Nothing
To add.
Guess I’ll make my
Sammies for the
Drone factory tomorrow!
Some of my neighbors who worked for big corporations in the city were offered an early-out deal when Obama ruined the economy-most of them got enough of a payout to start their own home-based business-which as increased the number of small companies out here-local people, best service and good prices...
“Or is this like an offer you can’t refuse”?
Yes. I have a friend who is in his 50’s. Works for Marriot Hotels in their Cyber Security dept. He was notified 2 weeks ago that he will be “offered” early retirement.
12 years ago they didn’t call it early retirement, they basically gave me six months go away money.
And my health insurance expired at 5 pm that evening.
If I got the offer now, I’d ask for my pension to be bounced up to what it would be when I turn 65 and give them a hearty wave.
A family COBRA is about 20k+ per year.
Just as your losing your income.
Not much of a retirement for most people.
In some cases it’s the match on your 401(k). My wife’s company doesn’t do pensions, but the company match has a years of service portion to their “core” retirement. If they bumped her 5 years, and allowed us to buy insurance for a few years she would jump ship tomorrow.
But, they just finished their recent round. If they do another round...she will be the one to turn out the lights.
Sometimes you get COBRA (LOTSA $$$$) or you can get ‘subsidized’ company healthcare for XX months at a lower cost.
I’m just at early retirement age, just Ready
for the next chapter.
One day at a Time.
When I was off for illness once I checked in to COBRA. The price was laugh worthy.
Some people at my work are waiting for the “golden handshake” to be offered. They are eligible to retire now, but the handshake will make their retirement better.
It’s only about 1,800 bucks a month. No big deal for someone who just lost their income.
As if the pension funds are not toast.
I didn’t wait for retirement-went into business with my best friend-a co-worker who also left-I’m still in that business with him-I love being my own boss, home based office, etc...
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