Hi, was looking for more info. Is it offered to all above 55?
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It can be especially challenging to find a new job in your 50s and 60s. The unemployment rate for older workers is lower than that of younger workers, but once out of work, older workers seem to have greater difficulties landing a new position.
Currently, if you're 50 or older you may contribute an additional $6,500 to your 401(k) on top of the $20,500 annual federal limit in effect this year.
401K rule of 55
"The rule of 55 is an IRS provision that allows workers who leave their job for any reason to start taking penalty-free distributions from their CURRENT employer's retirement plan once they've reached age 55."
My worry is that lot of people will be interested in separation package and it will be given to few of us only. Damn so eager to get out of this he-l.
Am interested in volunteer separation package as well.
More info on this volunteer package is appreciated.
Heard it is coming in Jan but not sure if this is volunteer. It has been offered every year since 2018 but not widely publicized. It may be popular now as many of us looking for it.