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Author: Subject: When not to retire to Baja?
fishbuck
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Registered: 8-31-2006
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[*] posted on 3-27-2017 at 12:47 PM


Since, I withdrew my VLO, about 200 people have recieved involuntary layoffs.
So, if this goes according to my plan I should get a layoff notice some time next year... hopefully about 6 months after my 59th birthday. At 59.5 you can start taking 401k money without tax penalty.
We get 26 weeks pay plus 1 year unemployment pay on layoff.
And I keep my recall rights.
So ideally I would be recalled after a year's mini-retirement. Maybe a few years.
1 or 2 years should be enough to build my 1st small structure.
If I had accepted the Voluntarily layoff I would have needed to give up my recall rights.
So a 1-3 year mini-retirment would nice. And then I still have the option to return if recalled in case I need more money. Which I probably will.




"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.

A clever person solves a problem. A wise person avoids it. – Albert Einstein

"Life's a Beach... and then you Fly!" Fishbuck

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BajaTed
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Registered: 5-2-2010
Location: Bajamar
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[*] posted on 3-27-2017 at 01:54 PM


Do you have to keep paying monthly union dues for the recall rights?:?:

That NO tax penalty is only if you designated your 401k as after tax when you first set it up.

A medical clearance for rehire is required contractually with most recalls also. :o

(Past IBEW shop steward just making sure you got it right,
Here is my other advice)
"if you were sleeping and got caught, say Amen when you wake up or I don't have a chance"





Es Todo Bueno
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