A transition offer -- 05/18/12

In a few weeks I am going to gain some extra time to spend on other than employment-related activities.

A couple of weeks ago I got an email from my employer telling me that I was eligible for a special program under a formula based on years with the company plus age (of course at my age I would have been eligible even if I had only been with the company a year or so). The program is called Transition to Retirement. If I decided I wanted to do it -- and if my management approved -- effective the beginning of July, I could cut back to 60% of my normal hours until the date I picked for retirement which was up to me to select as long as it was by December 31, 2013. I would be eligible for full benefits during that time (including all holidays -- but vacation accrual would be at 60% of my usual). Oh, and to make it attractive, even though I would be putting in 60% of my regular hours, my pay would be at 70% of my full-time pay.

When Nancy got home from work that day, I told her about the offer and she said "You are going to take it, aren't you?"

Cut to the chase: Yes, I am going to take it.

I indicated my desire to take the offer and my 1st line and 2nd line managers have approved it, so (unless I change my mind in the next two weeks) I am committed to this program and will be working a three day (3 x 8 = 24 hour) week effective with the beginning of this July and eighteen months later I will fully retire at age 70 years and 8 months.

There is another transition. Effective with the end of this school year, Nancy is taking a leave of absence from teaching and will be enrolled as a full time nursing student (with the intent of becoming an RN).

There are brave new worlds ahead of us, but life is supposed to be an adventure... Right?

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