Grabber Posted August 6, 2011 Author Report Share Posted August 6, 2011 In March I went into the DROP so I set my retirement with out penalties. I want to leave but I would be foolish to not work another year or so and pay the house off. Wife says if I want a 2013 Boss I have to work the entire 5 years. (max DROP time allowed) Although she was not fond of the Shelby I think she wants the Boss so I will stay gone longer!! What is the "DROP" ? It is much easier to save for a car once your house is paid off. I'm saving to get my wife a new one now. Quote Link to comment Share on other sites More sharing options...
Glenn Greenwell Posted August 6, 2011 Report Share Posted August 6, 2011 What is the "DROP" ? It is much easier to save for a car once your house is paid off. I'm saving to get my wife a new one now. Deferred Retirement Option Plan allows employees in Arkansas to retire and put their retirement check in a savings account and keep working, length of DROP varies by profession and cities. It also helps in retaining key employees that have skills needed by the employer by providing an incentive to stay instead of retirement. Many have mixed feelings about DROP. I have been in DROP with my City for 13 years. It's pretty common.......... GG Quote Link to comment Share on other sites More sharing options...
Grabber Posted August 8, 2011 Author Report Share Posted August 8, 2011 Deferred Retirement Option Plan allows employees in Arkansas to retire and put their retirement check in a savings account and keep working, length of DROP varies by profession and cities. It also helps in retaining key employees that have skills needed by the employer by providing an incentive to stay instead of retirement. Many have mixed feelings about DROP. I have been in DROP with my City for 13 years. It's pretty common.......... GG Wow. I have never heard of that program. I can see how it would be controversial. IMO that old " retaining key employees that have skills needed by the employer" mind set is a false conception. If an employer trains people as the company grows, new employees should be able to step in and take over any job. Sure there are growing pains, but no one is so important that they can't be replaced. If the old guys don't let the young guys move up a notch or 2...then they move onto a company where they can grow. Quote Link to comment Share on other sites More sharing options...
Glenn Greenwell Posted August 8, 2011 Report Share Posted August 8, 2011 Wow. I have never heard of that program. I can see how it would be controversial. IMO that old " retaining key employees that have skills needed by the employer" mind set is a false conception. If an employer trains people as the company grows, new employees should be able to step in and take over any job. Sure there are growing pains, but no one is so important that they can't be replaced. If the old guys don't let the young guys move up a notch or 2...then they move onto a company where they can grow. Grabber that is certainly one of the issues in Arkansas. Some Cities have a five year DROP, Some have a ten, and some have an unlimited DROP. It does slow down promotions as a side benefit, but there was nothing that forces one to retire or enter DROP. In this economy everyone is trying to hold onto their job to protect their families. In my case I struggle with the decsion to leave at the end of each year. Our DROP is sturctured so that when you reach 10 years you stop making retirement contributions but can continue to work. It penalizes you by stopping your retirment payment as an incentive to get you to consider leaving. It is very complex too be sure. In todays economy with the cost of health insurance and the stock market moving up and down, I have elected to stay another year. I stay as long as I believe I add value to the organization. I can remember when I was younger wanting the old heads above me to leave to promote up, that is human nature. Each persons situation is different when it comes to retirement and knowing when to pull the plug. Before my dad passed several years ago as I struggled with when to leave, I asked him how he made his decision to leave the air force. He said he just woke up one day and decided he didn't want to do it any more. I wish it was that simple. There is talk in some states that have DROP to limit it further or not extend it beyond the original legislation. I guess the bottom line is if you have a job in this economy one should be very happy. There are so many folks out of work that wish they could work. Not trying to go political here, but in my opinion government is vapor locked and I believe we need to have federal term limits to stop all this crap in Washington DC so people elected look out for the people that put them in office. Just my thoughts.......... GG Quote Link to comment Share on other sites More sharing options...
Bob Knudsen Posted August 8, 2011 Report Share Posted August 8, 2011 I had my kids too far apart: My oldest is 29 and my youngest only 8. I have no plans to voluntarily retire, ever. I can see being more picky about the caseload I have as an attorney, and working less hours, but I simply do not see retiring. I guess it is a good thing I usually like my work. Quote Link to comment Share on other sites More sharing options...
Grabber Posted October 23, 2011 Author Report Share Posted October 23, 2011 3 more years, 2 months and 7 days. :happy feet: Quote Link to comment Share on other sites More sharing options...
Torch Red Texan Posted October 31, 2011 Report Share Posted October 31, 2011 3 more years, 2 months and 7 days. Good luck Grabber. Hope you have something to do. I retired in 2009, got bored and opened a store. Now I work three days a week. Quote Link to comment Share on other sites More sharing options...
Grabber Posted December 17, 2011 Author Report Share Posted December 17, 2011 (edited) I made it to that sweet spot with out getting into my savings fund. Totally DEBT FREE ! Now I need to stay disciplined and keep it that way so I can save money and retire early. Edited December 17, 2011 by Grabber Quote Link to comment Share on other sites More sharing options...
Grabber Posted December 30, 2011 Author Report Share Posted December 30, 2011 I can't see the light at the end of the tunnel yet, but 2 months ago on my 49th Birthday I couldn't help but start the 5 year countdown in the back of my mind. My goal to hit this date is on track and currently solid. I just hope the economy allows me to work at least 1000 hours a year so my pension can be activated. I'm looking forward to my 54th Birthday more than any other birthday. 58 working months left. http://www.timeandda...in=&sec=&p0=234 Today I turned 51. Now I am exactly 3 years away from my eligible retirement day. Now that I look back on it - the last 2 years have gone pretty slow. Time left until Tuesday, December 30, 2014 (Seattle time) - 1095 days. Quote Link to comment Share on other sites More sharing options...
Grabber Posted December 31, 2011 Author Report Share Posted December 31, 2011 Just made under the 3 year mark. 2 years, 11 months & 30 days. Quote Link to comment Share on other sites More sharing options...
Blown Away Posted December 31, 2011 Report Share Posted December 31, 2011 (edited) Great Rob!!! I have 10 years to go on Jan 2nd, which happens to be my youngest daughters birthday too. The original plan was when I turn 50, but due to my TSP account rules (like a 401k), I have to work 1 day in the year I turn 55 or wait unti 59 to access the money penalty free. May even go to 57, mandatory retirement, so I can collect unemployment too on top of everything else...lol Dan Edited December 31, 2011 by Blown Away Quote Link to comment Share on other sites More sharing options...
wingsnut Posted January 1, 2012 Report Share Posted January 1, 2012 I made it to that sweet spot with out getting into my savings fund. Totally DEBT FREE ! Now I need to stay disciplined and keep it that way so I can save money and retire early. Congratulations Rob! Feels good doesn't it? That point came for me 4 years ago when I was 44. Stay disciplined, it can be very tempting to to take funds once used for "payments" and piss them away on the "just this one thing" stuff. I've slipped on a few items like that. Enjoy your newly found financial freedom! Chip Quote Link to comment Share on other sites More sharing options...
Grabber Posted January 1, 2012 Author Report Share Posted January 1, 2012 Great Rob!!! I have 10 years to go on Jan 2nd, which happens to be my youngest daughters birthday too. The original plan was when I turn 50, but due to my TSP account rules (like a 401k), I have to work 1 day in the year I turn 55 or wait unti 59 to access the money penalty free. May even go to 57, mandatory retirement, so I can collect unemployment too on top of everything else...lol Dan There is a way to get your 401K early with no penalty when you are 50. Here are some articles on the SEPP rule 72t. http://www.marketwatch.com/story/tap-retirement-savings-early-without-penalty-2010-04-28 http://www.retireearlyhomepage.com/wdraw59.html Quote Link to comment Share on other sites More sharing options...
Grabber Posted January 1, 2012 Author Report Share Posted January 1, 2012 Congratulations Rob! Feels good doesn't it? That point came for me 4 years ago when I was 44. Stay disciplined, it can be very tempting to to take funds once used for "payments" and piss them away on the "just this one thing" stuff. I've slipped on a few items like that. Enjoy your newly found financial freedom! Chip Chip, I know exactly what you mean. I have been in a spending frenzy this Christmas for my family and adding stuff to my wife's car. Our dishwasher went out last night and it is time to replace it, so time to go shopping again today. Sheesh. That being said....I plan on being very disciplined during the next 3 years and saving for retirement. It's my 2012 new years resolution. Quote Link to comment Share on other sites More sharing options...
KCMO-GT500 Posted March 11, 2012 Report Share Posted March 11, 2012 how time flies since this first started.......I could have retired last october, but am sticking it out until Linda retires in july 2013.....although it is tempting to work another 6-8 months and use the difference to buy a new boss........decisions, decisions..... Quote Link to comment Share on other sites More sharing options...
twobjshelbys Posted March 11, 2012 Report Share Posted March 11, 2012 My wife is tired of teaching kids that don't want to learn while society approves and supports that choice so she is going to quit, er, retire this spring. That means I'm stuck for at least 10 more years. Quote Link to comment Share on other sites More sharing options...
KCMO-GT500 Posted March 11, 2012 Report Share Posted March 11, 2012 My wife is tired of teaching kids that don't want to learn while society approves and supports that choice so she is going to quit, er, retire this spring. That means I'm stuck for at least 10 more years. ...my wife is a first grade teacher, and is leaving at age 58 with 34 years in.....luckily while her attendance area is going downhill a bit, her classes have been pretty good lately. Because of the Missouri teacher retirement system (costs both her and the district 14% each) her net income will actually go up a bit after retirement......she can also take a three year lump sum at the start for investment purposes that does not drop her monthly check too badly. But 34 years has taken its toll, and both she and I are weary of her leaving the house at 7am, returning between 6 and 7 pm, and still doing papers each night and weekend at home. It is a tough profession for teachers who care. Quote Link to comment Share on other sites More sharing options...
twobjshelbys Posted March 11, 2012 Report Share Posted March 11, 2012 (edited) ...my wife is a first grade teacher, and is leaving at age 58 with 34 years in.....luckily while her attendance area is going downhill a bit, her classes have been pretty good lately. Because of the Missouri teacher retirement system (costs both her and the district 14% each) her net income will actually go up a bit after retirement......she can also take a three year lump sum at the start for investment purposes that does not drop her monthly check too badly. But 34 years has taken its toll, and both she and I are weary of her leaving the house at 7am, returning between 6 and 7 pm, and still doing papers each night and weekend at home. It is a tough profession for teachers who care. My wife has an asst. principal who is a gutless wonder on a power trip. He's a manager that is going to have a huge turnover this year. I told her she should write a swan song letter to the superintendent about this asshole. He's pushing at least two maybe three experienced "special needs(1)" teachers out of the system because they "teach the old way". Well, clowns, the three R's got us where we are and now "multilingual and the new math" have brought us into the biggest recession since 1929. sigh... Think about it. We've lost our "technical edge" We can't even build a 200K electric car that when the batteries get discharged die and have to be replaced for $40K. The only thing we can do now is buy from China and put or people to work in restaurants. Double Sigh. Finally, she is supposed to be 1/2 time (she hasn't had a full time for only 1 of the past 5 or 6 years) but still puts in more than 50 hrs. a week. That plus the pri** and I would have quit years ago. The difference is I would have gone to a school board meeting and called this little gutless wonder to their attention. No manager with a 10% turnover rate would survive in my industry. (1) She teaches what is called in the new vocabulary "Literacy". When I went to school in the 50's and 60's and 70's it was called "Remedial Reading". Edited March 11, 2012 by twobjshelbys Quote Link to comment Share on other sites More sharing options...
KCMO-GT500 Posted March 11, 2012 Report Share Posted March 11, 2012 ....from what I have seen, teachers and nurses are the two most abused professions around......I think in part because they are obviously people who care and really are willing to work hard to help others, and also because historically they are mostly female, and the culture seemed to encourage this type of abuse, and they were supposed to stay quiet and in their place. Things are changed and unions are present, but there is a lot of progress to be made. In the kansas city area there are over a dozen major school districts where my wife could go if she had a situation like your wife's....luckily Linda's principals (only 2 since our move to kc in 1984) have been professional and supportive.....their culture has resulted in an elementary school that is tops in the district, with the district being one of the better performing in missouri. But it does frustrate her to have to find time for all the basics, and at the same time deal with each new initiative and approach to teaching that is adopted. But heck, my job (federal law enforcement...epa) really has a bunch of the same issues....I suppose I just don't let it get to me. But if the job stresses your wife out, then it will pay long term for both of you for her to escape/retire. Quote Link to comment Share on other sites More sharing options...
Bill Hamilton Posted March 11, 2012 Report Share Posted March 11, 2012 Here's my countdown to retirement .... of maybe another career? 91 days, 0 hours, 12 minutes, 45 seconds until Sunday, June 10, 2012 ..... not that I'm counting or anything. :happy feet: Quote Link to comment Share on other sites More sharing options...
twobjshelbys Posted March 11, 2012 Report Share Posted March 11, 2012 I had the offer in Feb (had to accept by 28th) of one of these programs. Looks like they got about 10% participation including a guy that helped support my program. Retire Aged Personnel Early (RAPE) program MEMORANDUM TO: All employees FROM: Managment SUBJECT: Revised Retirement Plan As a result of the reduction of money budgeted for departmental areas, we are forced to cut down on our number of personnel. Under this plan, older employees will be asked to go on early retirement, thus permitting the retention of the younger people who represent our future plans. Therefore, a program to phase out older personnel by the end of the current fiscal year, via retirement, will be placed into effect immediately.. This program will be known as Retire Aged Personnel Early (RAPE). Employees who are RAPED will be given the opportunity to look for other jobs outside the company. Provided that they are RAPED, they can request a review of their employment records before actual retirement takes place. This phase of operation is called Survey of Capabilities of Retired Early Workers (SCREW). All employees who have been RAPED or SCREWED may file an appeal with upper management. This phase is called Study by Higher Authority Following Termination (SHAFT). Under the terms of the new policy, an employee may be RAPED once, SCREWED Twice, but may be SHAFTED as many times as the company deems appropriate. If an employee follows the above procedures, he/she will be entitled to get Half Earnings for Retired Personnel's Early Severance (HERPES) or Combined Lump-sum Assistance Payment (CLAP), unless he/she already has Additional Income from Depedents or Spouse (AIDS). As HERPES and CLAP are considered benefit plans, any employee who has received HERPES or CLAP will no longer be RAPED ore SCREWED by the company. Management wishes to assure the younger employees who remain on board that the company will continue its policy to ensure that employees are well trained through our Special High Intensity Training (SHIT). The company takes pride in the amount of SHIT our employees receive. We have given our employees more SHIT than any other company in the area. If any employee feels he/she does not receive enough SHIT on the job, see your immediate supervisor. Your superviosr is especially trained to make sure you receive all the SHIT you can stand. Quote Link to comment Share on other sites More sharing options...
Bill Hamilton Posted March 11, 2012 Report Share Posted March 11, 2012 I used to be an Air Force instructor and told my students I liked using the Basic Understanding Lecture List Special High Intensity Training or (B.U.L.L.S.H.I.T.) method when instructing. While I thought I was pretty good at it, ocassionally I came across a few true professionals. I notice the Internet has quite a few also. Quote Link to comment Share on other sites More sharing options...
joebob948 Posted March 11, 2012 Report Share Posted March 11, 2012 When I retired 3 years ago,I hated it......................... for about 2 seconds...... I don't know how I did half the stuff I did under the time constraints!!!!!!!!!!!!!!! Quote Link to comment Share on other sites More sharing options...
Bill Hamilton Posted March 11, 2012 Report Share Posted March 11, 2012 When I retired 3 years ago,I hated it......................... for about 2 seconds...... I don't know how I did half the stuff I did under the time constraints!!!!!!!!!!!!!!! Now those are the stories I like to hear (LOL). Quote Link to comment Share on other sites More sharing options...
Grabber Posted March 12, 2012 Author Report Share Posted March 12, 2012 1023 more days for me. Quote Link to comment Share on other sites More sharing options...
MY500SS Posted March 12, 2012 Report Share Posted March 12, 2012 1023 more days for me. At least 3650 for me Quote Link to comment Share on other sites More sharing options...
mywickedshelby Posted March 12, 2012 Report Share Posted March 12, 2012 (edited) 6250 for me! :happy feet: Edited March 12, 2012 by mywickedshelby Quote Link to comment Share on other sites More sharing options...
verlyn12 Posted March 12, 2012 Report Share Posted March 12, 2012 540 days and 432 working days (approx) or maybe sooner if I can manage it! I have that 2012 Shelby to pay for and all the welfare people counting on me! I can't wait- I am looking forward to going to coffee and doing some travelling with my husband of 42 years. We really want to drive route 66 for one thing. Might even get those pictures that are in a box sorted and in scrapbooks-or not. We have 7 grandkids that live so close we can go to all their events and ball games so that is appealing, too. We took our first cruise around the Hawaiian Islands last Dec so I have the cruise bug now. The Eastern Caribbean this next Dec. Norway this summer. And of course there are those Shelbe events coming up and will definitely make plans to go to the Bash next year. Quote Link to comment Share on other sites More sharing options...
3ponies Posted March 12, 2012 Report Share Posted March 12, 2012 13 Quarters for me. No longer than 4/20/15 when I will have 20 years with my company and be 63 and 1 month old. Great job by you folks who got out in their 50s! I am in the count down and moving savings into more secure investments mode. Quote Link to comment Share on other sites More sharing options...
MY500SS Posted March 13, 2012 Report Share Posted March 13, 2012 6250 for me! :happy feet: I'm feeling a little better now...............thanks Michael. Quote Link to comment Share on other sites More sharing options...
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