I also was thinking about retiring next year.
I took the ERP. Within one year is close enough to my goal. It's a good package and I doubt a better one will come along in the near future.
I look forward to joining the group of happy ex-Intel employees.
@svn BK will need to keep firing 10% of the company every year (that can still be done indefinitely because it's 10% on the current base, not the x amount of years ago base). Look at how DEC and Sun Microsystems declined in headcount before their ultimate demise. That is Intel's future with ARM disruption picking up speed.
social security limits is a big one, the more you get paid, the less you get taxed.
Some people offered ERP are around 50 because they have never worked anywhere else. They won't really 'retire' that young, got kids in high school, a years pay really doesnt help. It would mean a different job/company probably same old crap.
"but remember you will have to share a large portion of the lum sum cash payout with uncle sam... will u really get one yr of pay?"
Uncle Sam gets his no matter how you look at it. Of course you will have to pay taxes on the income, but you have to look at how it works out at the end of the year. You need to understand the marginal tax rates, social security limits, etc. For most people the net tax difference compared to getting a year+ of your life will be small. But then again I was in a good financial position and could afford to look at it this way.
but remember you will have to share a large portion of the lum sum cash payout with uncle sam... will u really get one yr of pay?
I'm on the ERP and already out of there,
Take a closer look at the ERP. In my case the total amount I will receive by February of next year will be closer to 65 weeks of base pay than 52 when you factor in the prorated bonuses, SERMA add-on, etc. Plus 18 months of COBRA.
You'll be working all year for nothing if you pass this by.
My coffee by the pool with the hummingbirds in the morning sure tastes good.
Take it now, you will not get better in the future
Why wait? Since you are getting a years worth of pay now, why not take it? Will be effectively the same thing and you can retire a year early. Otherwise you wait until next year and what does it buy you?
If you are planning on holding out and hoping they offer this same deal next year... no way. I've been at Intel for 20 years and this is the best they've ever given that I am aware of. Even BK can't keep firing 10% of the company every year.