Anyone know if you can notify your manager you will be retiring, notify HR 30 days prior and then take your sabbatical, come back one day and retire?
19 replies (most recent on top)
@1yq the only benefit I’m aware of is you get to keep employee rates/ discounts and you won’t lose any shares that have not vested. I’m sure this is all on flagscape somewhere
Still, no one in this thread has offered any details regarding benefits for retiring with extended notice vs. just 2 weeks and goodbye.
What exactly are these retirement benefits (assuming rule of 60 is met and employee is at or near retirement age)?
I did this successfully last year. Time required to submit notice of quitting or retiring is role-dependent. Most are still 2 weeks, You can see your specific role, by clicking thru a bunch of links on your profile in WorkDay. I don't recall exactly, so maybe someone can chime in with how to find it. I was shocked to see my role required 60 days, so glad I checked!)
The below is also covered elsewhere on this site, but as I recall, general timing for Sabbatical was:
Feb-Apr: Sabbatical-eligible employees are notified by personalized HR-generated email sent to your office address that you are eligible in the coming year. You have 30-60 days to have a conversation with your manager (encouraged, but not required).
June-July (ish): Deadline to submit your Sabbatical Application using GHR's online tool, which must include your 1st and 2nd choices for Sabbatical dates next year.
Aug-mid Oct: HR provides managers with a summary of their employees who applied along with their requested dates. (manager then whines the rest of the year that everyone is taking the summer off and he will have to do all the work... boo hoo.)
(If everyone picked the same week, then the manager may come back to you and ask if you have flexibility, and then there's some convos back and forth.)
Nov: You receive a personalized GHR-generated email to your office address notifying you if you were approved (or not) with your finalized dates. (which may or may not be what you requested, but everyone I know got their requested dates. Most were over the summer, but I requested March -- after Bonus payout. I did not want to work much in the coming year where I would not be there Dec 31 to qualify for any bonus.)
Once Sabbatical was approved, I used Dec/Jan to finalized a coverage plan for my upcoming absence. Then, used ChatGPT to draft a short note giving my 60-day notice to my manager (which included my Sabbatical dates), which I sent exactly 61 calendar days before my chosen retirement date. (I chose the last Sunday of my Sabbatical, but GHR rep said I they needed to modify for 1 business day after Sabbatical end, b/c of some law.)
My last day, GHR had me log in via VPN, I sent some goodbye notes to colleagues. And downloaded Fed Ex labels using the MyTech site to return laptop, corp phone, etc. (take photos of your stuff in the package with the label just in case it gets lost.)
So I worked Jan, most of Feb, doing my job as always and planning coverage. Emailed my manager Feb 16 that I planned to retire. Took an uncomfortable call from him, where he expressed his disappointment, blah, blah, blah. Then, I went on Sabbatical and never came back into the office. (I could have gone in, but preferred a clean break.)
They could always change the rules, but this worked in 2025.
Agree that notification period was a shocker!
@159 Again... WHY!!! Two months notice for what reasons. When did BofA become a government requiring anyone to give two months notice. If benefits are not the reason, then it is a moot point. In my group, a replacement is not a priority so two months will not take care of the requirement. My 401K will not change. No health benefits unless I want to pay more than what is offered on the outside. A retirement gift, BofA can keep it so Senior Management can add onto to their hefty bonuses. It is just a scare tactic. I work in an "at-will" employment state, where I or BofA have the right to end the working relationship at any time, for any reason, and without prior notice. Bofa's annual notice does not take precedence. Again, why do we need to give two months notice?
Certain level have a notice requirement of two months. You should know if you have one as you receive an annual email advising of such.
@hf Exactly what I'm thinking. Still trying to figure out what advantages there are for giving months of notice and officially calling it retirement. I know there were a couple of companies, acquired many years ago whose employees may have some special deals with healthcare etc. (made way back when human capital was important). For the rest of us, aside from fluff 'benefits' like retirement counseling or financial advisors, I don't see anything. Btw, I like my managers and have no problem giving them a month or two for transition, but just wondering if I'm missing something benefit-wise.
@hb Good question about retirement benefits!!! At some point this year, I am going to announce my retirement. Several years ago, 6 months notice was needed for my replacement. Well, last year someone in my group retired and no replacement exists. Lately, I heard from my manager in group meeting 2 months to allow replacement and for benefits to be established. What benefits as I do not need health and dental especially if the premium rates are high in comparison to other options. Also, RSU vesting in March 2027 prorated for months employed and bonus contribution to 401K in February if retired end of year at managers discretion. Again, not fixed in stone. If I call HR with my intentions, they will only notify my manager and let my surprise go out the window. We all know that BofA will not give us 2 months notice to give us the boot. So, how much notice is really needed for my retirement if benefits are not substantial at all? If 2 months notice is true, what benefits and why it takes this long to establish them before leaving the company?
@e3 What are the retirement benefits you mentioned please? I'm probably missing something but I haven't seen/read about any tangible ($$) benefits to officially retiring vs. quitting with the standard 2 weeks notice. If anyone can summarize those ret. benefits, it would be much appreciated. Thank you!
@dy yes, you can. Someone exactly did the same thing. took a sabbatical, gave a day's notice, and was gone. BYE BYE!
Just take the sabbatical and then retire. There is no need to inform your manager of your plans. Enjoy free pay...you deserve it!
I agree with @dy. Why give any notice when you are going to retire? Do your retirement planning ahead to have your finances and Healthcare in order. Advise them you are retiring immediately. No reason to be professional since they certainly aren't anymore. My manager is a joke and doesn't even deserve a CC on the notice. If they lay you off, you are here one minute and are gone the next. I think everyone close to retirement should consider this path.
The only advantage for the OP to take sabbatical rather than retire now, would be if they were to be laid off while the sabbatical was happening. That way they'd (hopefully) get some severance $$ before riding off into the sunset of retirement. Then again, the severance package could be severely lessened, or done away with altogether by then, who knows? Another disadvantage for that scenario would be that they wouldn't get any of their retirement benefits, since officially they'd have been involuntarily laid off, rather than choosing to retire.
Seems taking that risk of being laid off while on sabbatical, and jumping through hoops just to get approved for a sabbatical, then retiring afterward (and leaving oneself vulnerable to a layoff in the meantime) is more BS than it's worth. Leaves too many "what ifs" in the hands of others, rather than having OP being the decision-maker about their own money/future.
I'd just initiate retirement now, and be done with it.
Take the retirement bennies and run!
You don't even have to give one day's notice.
You could email HR with cc-ing your boss right now, and say you're retiring "effective immediately."
You are an adult, with agency over your own life, living in a "free" country!
Do what's best for YOU.
Sure, ideally for THEM, you could give a couple weeks' notice, but you aren't required to do so. Also, since you're retiring rather than having to be in a position of finding another job, the whole aspect of references from anyone there is a moot point. You're FREE!
Just email HR with cc-ing your boss, saying that this is your notification to them of you "retiring, effective immediately", and be very matter of fact about it, brief, to the point, and that's that. You don't have to givreasons why, or be convinced to stay on to "train" anyone else over to your duties, or to give an exit interview, or anything else. You are under no obligation to them for anything other than remaining professional, as you exit from their presence.
State in the email that is your personal email address where HR can correspond with you about offboarding paperwork, etc. and give a phone # where they may call you if needed. State that you prefer to correspond via email, that way you have a paper trail, for reference, should you need clarification on any loose ends being finalized w/ HR.
Good luck, and enjoy a wonderful retirement!
Your sabbatical has to be planned and approved in the year prior to taking it. Once you have that in place then calculate your notification period with HR. I’d say go for it.
Can I give just one day notice and quit? What are the consequences?
This is my plan in 5 years. Sabbatical then retire.
If seen it done several times, but the employees gave a few months notice in advance.
@a7 A co-worker did exactly this.
Why would your manager approve a sabbatical, if you give them a 30 days heads up that you plan on retiring anyway?
Just take the sabattical, then when you return, give notice to HR & your boss that you're retiring. Nothing they can do about it, and you don't even have to give any advance notice, either. LOL.