Early retirement

by Mike Endsley
(St. Louis, Mo)

After 18 years my current job is being out sourced and my services are no longer required. I am eligible for early retirement but can't live on approximately $800 per month. I am planning to look for another job but don't know how long that will take. Can I collect un-employment if I choose to retire?

Wendy As with most answers, it depends. I normally delete questions like this with few details as they are impossible to answer. You did leave your email address so you will be notified that I published this.

You didn't mention your age... hard to tell what is right for you and how far you are from Social Security (or is that what the $800/mo is)?

Do you get retiree health care with your $800 pension? (or again, is that a Social Security payment)? If so, you really DO need to take that pension and get covered for insurances.

If you don't, you might postpone your pension... apply for unemployment as you probably are eligible. Collect it then find work, or get your pension later.

Hope this helps...

Comments for Early retirement

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by: Anonymous

can you get your old job back on an outsourced or temp basis? You might try that angle. Retiring before you are ready is not a good idea imo.

Early Retirement...no unemployment
by: Susan

If you retire, you get no unemployment. But they are offering you a pension for your agreement to retire.
(the present value of 800 a month for life is quite a lump payment sum)...

If they are laying you off, they might offer you severance...for a few months or and you miss out on 800 a month for life...you get no unemployment while you are getting severance.

If you take a Retirement Package, you positively get NO unemployment but as you say, you get 800 a month for life and you can find another job.

by: Donna

I am retiring (in two weeks) after 45 years in human resources. Early retirement asked if he could get unemployment if he retired. Though things can be different state to state you usually have to be actively looking for fulltime work and available for fulltime work. You normally need to keep track of what you have done to find work, record it and turn it in periodically. Good luck.

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