If you volunteered for the RIF, does retirement (if elegance) start at the end of the 26 weeks or when you separate from Hon. The 26 weeks would help get closer to 60 YO. I'm thinking I'll ask to be RIFed if given the chance next time.
Thanks
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I believe that you can delay Medicare startup based on having health care coverage from severance. If your coverage is under COBRA, you have to pick up Medicare right away as COBRA ends at age 65 regardless.
Also, you need to apply for Medicare several months in advance. Read up on the rules for Medicare now so you can do the correct thing when the time comes and avoid penalties for delays. https://www.ssa.gov/medicare/
Social Security can be delayed all the way up to age 70. For each month you wait, your monthly payment will increase. Your question suggests you don't understand social security well. Start at the Social Security website and seek advice if you still don't understand. https://www.ssa.gov/planners/retire/
The severance and pension can not run concurrently. I have to exhaust my severance before I can get my first pension check. Fortunately for me my severance will take me 3 weeks past my 65th birthday. I am also going to delay social security and medicare for one month (if I can do this) since I have my HON health insurance through the end of January. This worked perfect for me but for those who are a ways from 65 or even 62 for that matter, you might have to get a job to fill in those months or years. Good Luck to everyone.
I am 59.5 thus the 6 mos. or 26 weeks gets me closer to 60. I had rather have retired at 60 or 61 if the 26 weeks gets me there.
I have 36 years at Garrett, Allied-Signal, Bendix now Honeywell but still missing out on 65 years old. So I need all I can get but don't want to remain here ( engine Phx. Any longer.
Retirement begins when you quit working. Pension payments don't commence until you apply for them. So retirement beginning and pension payment beginning are not necessarily at the same time.
If you start pension payments, your severance will stop immediately. Also, 26 weeks of severance only applies if you have 26 or more years of service without prior severance periods. And 26 weeks not not bring everyone closer to 60 years of age; whatever the significance of that is.