How does Schwab handle an employee who wishes to take their sabbatical, then retire? Does the employee have to return to work after the sabbatical for a certain period of time? Or can the employee simply retire after getting paid for the sabbatical? Thanks!
17 replies (most recent on top)
Make sure on your resignation letter you state you are retiring. If you are at least 55, you will qualify for a pro-rated bonus next year if your manager okays it. It doesn't come out of their bonus pool, so as long as they don't hate you, you'll get a few more bucks.
RSUs also vest 100% on your last day if you are here at least 10 years, or on regular vesting schedule if you made it at least 7... again have to be 55, and state retire.
I just recently took my sabbatical, resigned the day I got back. Gave 8 day notice. Health benefits are always covered until the last day of the month.
I have to guess that taking a sabbatical gives a lot of people a different perspective and a lot of them decide to retire after getting a taste.
@tb Not bb. Your premiums and coverage are paid by the company a the start of the month and should remain in force. For example, you resign on the fifth with two weeks notice. Your coverage should be to the 30th. Always best to check to make sure Kaiser or UHC doesn’t play games on this.
@p4 You can still take calls after falling, Why aren't you in available status?
@bb if the employee leaves directly after sabbatical do they have to repay any medical premiums? Thanks!
@r1 Schwab HR can't say anything about an employee and a third-party handles employment verification. Managers and policy also prohibit making any statement. The comment was clearly sarcastic.
@bb Schwab nor any company can give a bad review unless you did something really bad. You are in an at will employment and can leave with no notice. Bad reviews with no proofs can lead to lawsuits. And your employment reference is handled by work number who would just provide dates of employment.
Take your sabbatical and then come back and "trip and fall." Not only will that be your last day, but you will get a big payout as well.
@be Classic. Make sure you tell them after you’ve walked your stuff out in a box.
Just quit when you get back? It's not that hard
Just resign.
Quit without notice. Tell them your position has been eliminated and unfortunately today will be your last day at the company.
Most PLs like a heads up, but that really depends on your tolerance for risk.
Under the current policies and political environment, I would take sabbatical, then resign and retire. Whether you give two weeks is up to you. There is no policy requiring advance notice nor that you give two weeks. And, honestly, what would they do? Give you a bad review for the next job you'll never apply for?
Giving any advance notice could interfere with your sabbatical.
Congratulations on the retirement.
Why even ask? You can resign whenever you want. Just don't tell anyone.
Just resign, effective immediately, the day you return.
Depends on your director but I do know someone that took their sabbatical then immediately retired