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Retirement Notice

Like a letter of interest or intent, a retirement notice indicates an employee’s plan to leave a job and helps to tell those people who must be notified. The retirement notice helps make the act official and states the details of your retirement. Giving a retirement notice many times can be confusing and can cause many questions to be raised. Read below the top five retirement notice questions that have been answered by the Experts.

If someone puts in a retirement notice and then is laid off, does that affect the employees retirement benefits?

Under the Employee Retirement Income Security Act (ERISA), the layoff should not affect the benefits that that are entitled to under their pension. The benefits that they are entitled to have built up over a period of time and once they have reached the retirement age then they are now allowed to receive those benefits. Many large companies provide severance to employees that are being laid off, usually severance is a length of service. Depending on the company’s severance, they may be giving a large amount of money if they retire instead of being laid off. After they are laid off, they should be able to retire and being collecting their pension.

If an employee puts in a retirement notice, and the employer accepts, but then the employee changes their mind and wants to continue working and the employer denies the request, is the employee eligible for unemployment?

When an employee gives a notice for retirement, the employer has the legal right to accept that notice immediately. The employer’s refusal to allow the employee to reconcile the employees retirement is not the same as termination. The state would see the situation, with the employee being without work, not termination but resignation, which is disqualify the employee for unemployment benefits.

Can someone turn a two year retirement notice to their employer, and can their employer terminate the employee once the notice is presented?

As for the notice the employee can provide this notice two years before they leave for retirement, but may consider giving the notice closer to the date of retirement such as three months. If the termination is not age related, the employer has legal right to terminate the employee. The retirement notice does not protect the job position. If the employer does terminate the employee have the notice has been placed, a lawyer can process a claim on discrimination based on age because employers cannot let go of older employees in order to bring young ones in.

How can someone withdraw a retirement notice?

There is no legal way to withdraw from a retirement notice, because in many cases, an employer does not have to accept a person’s intent to withdraw from the notice and accept the retirement. If they are considered an at will employee, the employer could ask for the employee to leave the company immediately rather than on the date that the provided the employer with for their final date of employment. The only exception would be if the employee was covered under an employment contract or collective bargaining agreement, and in that case the terms of the contract would state whether the notice could be withdrawn or not.

If someone gives 6 weeks retirement notice can they be terminated prior to fulfilling the notice and lose their retirement pay?

An employer can always terminate an employee after that employee has given “retirement notice,” and before the “notice time” has run out, unless some employment agreement says otherwise, an employer can terminate a “resigned” employee before the “effective date” of the resignation. However, if an employer terminated an employee to prevent the employee from achieving full retiree status, this may be a violation of the federal E.R.I.S.A. law. A federal law called the Employee Retirement Income Security Act, or “E.R.I.S.A.,” protects employees from employers intentionally frustrating their retirement benefits.

Anytime an employee is leaving employment, especially upon retirement age, giving a retirement notice or notice of any kind may have implications and cause many legal questions to come up. Ask the Experts for insight before turning in your retirement notice letter, the Experts can provide you with fast helpful answers to all your questions.
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