Retiring and option week..

Vette51

Well-Known Member
I am looking into retiring in Jan 2021 with 35 years under 65. I know if I work jan 1 I get all vacation time paid out, but what about option week ?? I know you would be entitled to it, but if you retired jan 1 its not banked in payroll yet and I figured you would have to get paid out for it before you actually retired.. Does anyone who retired 1st week of January have any advice on this. I really don't want to stay til the end of January to get paid out 1 week.
 

quad decade guy

Well-Known Member
I am looking into retiring in Jan 2021 with 35 years under 65. I know if I work jan 1 I get all vacation time paid out, but what about option week ?? I know you would be entitled to it, but if you retired jan 1 its not banked in payroll yet and I figured you would have to get paid out for it before you actually retired.. Does anyone who retired 1st week of January have any advice on this. I really don't want to stay til the end of January to get paid out 1 week.


I'm 58 with 40 years. I've wondered also. But don't we qualify for it all some time in the fall? Sept, Oct.? So, if you left in say Dec., don't they owe you all that accrued vac. assuming the option week is in there also? Now, when they pay you is another subject and it seems they pay out when they get ready.
 
Firstly every supplement maybe different. Second, in the central, I was told I have to have worked 1250 hours from my full time seniority date to receive full paid vacations. The option week is issued on January 1. All that being said, a guy in my building, with a September seniority date worked his last day on December 24 last year and subsequently got paid for 7 weeks, than collected his first pension check on March 1.
 

quad decade guy

Well-Known Member
Firstly every supplement maybe different. Second, in the central, I was told I have to have worked 1250 hours from my full time seniority date to receive full paid vacations. The option week is issued on January 1. All that being said, a guy in my building, with a September seniority date worked his last day on December 24 last year and subsequently got paid for 7 weeks, than collected his first pension check on March 1.
Doesn't everyones hours of accrual start first of the year? I thought that was all changed? Why wait to March 1st? Why not just get paid off? How about a payoff then first pension check early Jan>?
 

DELACROIX

In the Spirit of Honore' Daumier
I believe that your option week would not be included with your final vacation sell back, I can still remember when I went full time you had to wait an entire year to build credit for the six weeks that I was already qualified as a Part Timer...but you could take that Option Week and two sick days during that year... It was May to May, if you retire during any part of the year you will be eligible for paid vacation checks according to how many hours you worked during the year that you retire...

Most people generally wait till the end of the year so they can leave earlier during the winter months....
 

Vette51

Well-Known Member
My seniority date is Sept, but was told by finance dept twice, if I retired in November 30 (before peak) I would receive all accrued vacation time up til that point, except the option week. I could maybe suck it up til jan 1 to get the option week, not sure I wanna stay 2 months (til Jan 31) to get those 50 hours paid.
 

Jones

fILE A GRIEVE!
Staff member
My seniority date is Sept, but was told by finance dept twice, if I retired in November 30 (before peak) I would receive all accrued vacation time up til that point, except the option week. I could maybe suck it up til jan 1 to get the option week, not sure I wanna stay 2 months (til Jan 31) to get those 50 hours paid.
A year after you retire are you really going to care about that extra week's pay one way or the other? I doubt it.
 
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