Subscribe to Entrepreneur for $5
Subscribe

Letter of Retirement Sample Ideas

Are you ready to say goodbye to working full-time? You're not alone. Since COVID-19 began, the retirement rate of Baby Boomers has accelerated significantly. Specifcally, nearly 29 million boomers retired...

By
This story originally appeared on Due

Are you ready to say goodbye to working full-time? You’re not alone.

Due - Due

Since COVID-19 began, the retirement rate of Baby Boomers has accelerated ‌significantly. ‌Specifcally, ‌nearly 29 million boomers retired in 2020. ‌In comparison with 2019, this is an increase of more than 3 million. And, what’s more it’s expected that 75 million Baby Boomers will be retiring by 2030.

In order to enjoy retirement, your first step is to‌ ‌resign‌ ‌from‌ ‌your‌ ‌job. ‌The goal is to leave a strong legacy in a professional manner. ‌As a result, your retirement will be off to a great start. And, that all begins with a letter of retirement.

What is a Retirement Letter

Retirement letters are formal letters announcing your resignation from your employer. ‌Resignation letters are different from other types of resignation letters in that they don’t tell your employer that you will be moving on to another company. ‌Instead,‌ ‌you’re letting them know that you’re exiting the workforce.

You can usually end your relationship on good terms since you’re not leaving over grievances or because another company offered you a better position or higher pay. ‌There is even the potential for future consulting opportunities.

It’s important to gracefully thank your employer for their support, explain any details they should be aware of, and provide them with information to help them‌ ‌transition.

Resignation letters are more than just formalities, however. ‌Changes in your pay, insurance, and retirement benefits are handled through this process.

Retirement letters are generally used along with verbal notices to supervisors. ‌Before you submit your retirement letter, you may wish to schedule a meeting to discuss your retirement plans. The letter will be stored with other important information in your employee file, such as your start date, compensation, and benefits.

Typically, retirement is a well-thought-out process. As such, it’s preferable for the employer to receive six to twelve months’ notice.

Tips for Giving Notice of Retirement

It’s important to remember that while starting a new phase in your life, you’re also leaving behind a job you were very qualified for. Because of that, you have years of experience to offer. ‌So, ultimately, it may not be that easy to fill an empty position if you resign due to retirement.

Before you send a letter, talk with your supervisor in person about your plans. ‌Providing them with ample notice is always a good idea. Additionally, properly announcing your retirement helps you and your company navigate‌ ‌this‌ ‌important‌ ‌transition.

When announcing your retirement, follow these steps:

  • Learn about the company’s retirement policies and benefits. Researching your company’s retirement policy is the first step in determining whether you qualify for retirement benefits.
  • Don’t leave without giving enough notice. If you plan to retire in a few months, you should give the company plenty of time to find someone to replace‌ ‌you.
  • Provide assistance‌ ‌during‌ ‌the‌ ‌transition. If your replacement needs training, you can be a valuable resource.
  • Address the right people. Your supervisor should receive the primary copy. ‌Provide a copy to HR since they will handle your health care coverage, pension, and 401(k).
  • Explore the possibility of working part-time or as a consultant. You can continue to work with the company on a limited basis if you want
  • Embrace graciousness. Describe your appreciation and accomplishments. ‌‌‌In addition, thank them for giving you the opportunity to‌ ‌work‌ ‌with‌ ‌talented colleagues.
  • Plan what you will do next. Maintaining a positive relationship with your employer is as simple as keeping them up to date on your plans.
  • Put your plans in writing with a formal letter or email. The first step is to talk face-to-face with your supervisor and HR department, but a written notice is also required.

Elements of a Good Retirement Letter

Writing a ‌successful retirement letter requires you to remember a few things, such;

  • A professional greeting. ‌The tone here should be deliberate, concise, and professional.
  • Be clear about‌ ‌your‌ ‌intentions. Resignation is the main theme of your letter of retirement. ‌This letter should reflect your decision to leave at this point. ‌Remember, directness is the key to your intent.
  • Your end date. Resignation letters must include this detail. ‌A minimum amount of notice may be required by law and by company policy.
  • A gracious tone. There should be no grudges, passive-aggressive shots, or other unpleasantness in your ‌retirement letter. ‌Your letter should be a demonstration of professionalism and grace — regardless of how you feel about your job or your boss. ‌Saying a simple thank you is a great way to do that.
  • Your end game. The moment you hand in your resignation letter, chaos can ensue. ‌There will be a need to fill your position. ‌It will also be necessary for you to cover your duties until a replacement can be found. ‌Your resignation letter should include your availability during the‌ ‌transitional‌ ‌period.
  • Provide your contact information. You will likely be contacted by your employer at some point, even if you aren’t consulting. ‌You might receive tax forms and benefits information from them. ‌You can facilitate this process by including your contact information.

Retirement Letter Template

Your name

Title you held

Your mailing address

Name of your immediate supervisor

Position of your immediate supervisor

Company name

Company address

Date

Dear [SUPERVISOR]:

Paragraph #1

Inform them that you are‌ ‌retiring. ‌Your last day of employment should be included.

Paragraph #2

You should thank‌ ‌your‌ ‌employer. ‌If there is anything you are especially grateful for, mention it. ‌Your achievements and successes should be described as well.

Paragraph #3

You can help moving forward by offering your assistance. ‌Describe your retirement plans. ‌If you are interested in consulting work, mention‌ ‌it.

Sincerely,

[YOUR SIGNATURE}

First and last‌ ‌name

Phone‌ ‌number

Personal email address

Letter of Retirement Sample Ideas

First Retirement Letter Sample

Martin D. Carey

123 Fleming St.

Bloomfield, New Jersey 07003

555-1234 (555) 555-1234

6 June 2022

Willie E. Coyote

President

Acme Co

321 Anvil Avenue

Fairfield, New Jersey 07004

Dear Mr. Coyote,

This letter serves as formal notification of my retirement from Acme Co., beginning August 31, 2022.

There has been no other organization that has given me that sense of belonging and purpose.

My fifteen years at the helm of the Structural Design Division have given me‌ ‌a‌ ‌strong sense‌ ‌of‌ ‌purpose. I’ve been fortunate to have your support, and I’ll be always grateful for the opportunity you offered me.

I had a difficult time making this decision. ‌As a result of finding a small property in Arizona where we will be able to spend our remaining days together, my wife and I have decided to officially retire.

In spite of my regret at being unable to contribute to the firm we’ve built, I believe it is wise to move on.

My heart will always belong to Acme Co. ‌Thank you for the opportunity and best of luck in the years to come.

Sincerely,

Martin D. Carey

Second Retirement Letter Sample

Gustavo Fring

Los Pollas Hermanos

12000 – 12100 Coors Rd SW,

Albuquerque, New Mexico 87045

Dear Mr. Fring,

I write this letter to announce my formal retirement from Los Pollas Hermanos as manager, effective October 15.

As an employee at Los Pollas Hermanos, I appreciate all the great opportunities you have given me. ‌It has been a pleasure to work with and learn from my colleagues for the past 10 years, and I am looking forward to my next challenge.

If there is anything I can do to assist during this time, please let me know.

Sincerely,

Linda T. Crespo

Third Retirement Letter Sample

William M. Arviso

4387 Parkview Drive

Tustin, CA 92680

May 2, 2023

Tony Stark

Owner

Stark Industries

200 Industrial Avenue

Long Beach, CA 90803

Dear Tony:

I’m writing to inform you that my final day of work at Stark Industries will be May14, 2023. ‌When that time comes, I intend‌ ‌to‌ ‌retire.

As I embark on this new chapter in my life, I would like to thank you and the entire Stark Industries team for providing me with so many opportunities. ‌You have all been a pleasure to work with and I will miss you all when I retire.

I am glad to assist you with the transition in any way I can to ensure your new hire has a seamless experience. ‌All ongoing projects will be completed until my retirement date, and all key information will be handed over‌ ‌to‌ ‌the‌ ‌team.

Once again, thank you for the opportunity to be part of the Stark Industries team. ‌All the best to you and the team in the days to come.

Please do not hesitate to contact me if you require any additional information. ‌In order to finalize my retirement plans, I’ll meet with HR and can provide any details that may be necessary.

Sincerely,

(Signature)

William M. Arviso

Fourth Retirement Letter Sample

Garcia, Barbara

First Street, 5432

New York City, NY 10001

(1234) (555) 123-1234

1 October 2022

Gunther

Owner

Central Perk

199 Lafayette St.

New York City, NY 10001

Mr. Gunther,

The day has finally arrived. ‌As I never imagined, I will be formally retiring from Central Perk on November 1st, 2022.

Considering how satisfied I am with my current position, this may surprise you. ‌It would be best if I retired now since my health has deteriorated, so I think this is a good time to do so.

There is no doubt that the past‌ ‌two‌ ‌decades‌ ‌have‌ ‌been‌ ‌wonderful. ‌Over the years, I have seen a small coffee shop grow into one of the city’s top‌ ‌destinations.

It will be hard for me to leave this firm without wondering what more success we could have achieved. But I’m confident that you and the rest of the Central Perk team will achieve great things.

My family and I will never forget what you’ve done for us, and I am grateful for the chance you’ve given me. My house is always open to you.

Sincerely Yours

Garcia, Barbara

Fifth Retirement Letter Sample

Pat Williams

618 Spooky Place

Monstropolis, 23221

123-555-0031

pwilliams@email.com

Feb. 16, 2022

Mike Wazowski

Co-CEO

Monters, Inc.

324 Scare Road

Monstropolis

Dear Mr. Wazowski,

As a formal notice of my upcoming retirement, I am submitting this letter. ‌I will be leaving Monters, Inc. on‌ ‌April‌ ‌13.

These past 10 years as a marketing associate have provided me with many opportunities. ‌Since we started our company a decade ago, we have seen the face of harnessing screams change dramatically into harnessing laughter. ‌During my time working with this dynamic marketing team, I learned a lot about customer behavior and marketing strategies. ‌Working closely with some of our long-standing clients, such as Boo, was a particular pleasure.

I would be happy to‌ ‌assist‌ ‌with‌ ‌the‌ ‌transition‌ ‌following‌ ‌my‌ ‌retirement. ‌It would be my pleasure to assist in the hiring or training of‌ ‌my‌ ‌replacement. ‌In order to spend more time with my family, I will also be able to offer part-time consulting services.

After I retire, I plan to cash out the eight unused vacation days I’ve accumulated and take my pension as a lump sum.

Thank you for the opportunity to work with Monters, Inc. ‌In the years to come, I wish you all the best!

Sincerely,

Paul Williams

Sixth Retirement Letter Sample

Dear Micheal,

As In my tenure at Dunder Mifflin Paper Company, I have given everything I had. It has been an honor to work here. But‌ ‌I‌ ‌have‌ ‌decided‌ ‌to‌ ‌move on to new challenges and retire from my position — mainly bears, beets, and Battlestar Galactia.

I appreciate the opportunity to work here and learn so much. During my time at this company, I will always remember the good times and memories we shared. Wishing you all the best in the future.

Sincerely,

Dwight K. Shrute

Your signature

May 16

Seventh Retirement Letter Sample

Greetings, Bill

I am announcing my retirement from Initech, effective March 15, 2023.

Over the course of my career here, I’ve had the privilege of working with so many talented and inspiring people.

In 1999, when I began working as a customer service representative, we were a small organization located in a remote office park.

The fact that we now occupy a floor of the Main Street office building with over 150 employees continues to amaze me.

I am looking forward to spending more time with family and traveling the country in our RV. Although I will be sad to leave.

Please let me know if there are any extra steps I can take to facilitate this transfer.

Sincerely,

Frankin, Renita

Eight Retirement Letter Sample

Bruce,

Please accept my resignation from Wayne Enterprises as Marketing Communications Director. My last day will be August 1, 2022.

The decision to retire has been made after much deliberation. Now that I have worked in the field for forty years, I believe it is a good time to begin completing my bucket list.

It was not easy for me to decide to leave the company. Having worked at Wayne Enterprises has been rewarding both professionally and personally. There are still a lot of memories associated with my first day as a college intern.

My intention was not to remain with such an innovative company, as you know. I was able to see the big picture with your help, however. Today, we are a force that is recognized both nationally and internationally.

In addition to your guidance, the bold, visionary leadership of our company contributed to the growth of our company.

My departure from the company coincides with a particularly hectic time. Despite my best efforts, I am unable to postpone my exit.

My position would be well served by an internal solution. I have a more than qualified marketing manager in Caroline Crown. It would be a pleasure to speak with you about this.

In case I can be of assistance during the switchover, please let me know. Contact us at (555)555-5555. As part of my responsibilities, I am responsible for making sure all work is completed to Wayne Enterprise’s stringent requirements. Having the opportunity to work with you has been a pleasure. I wish you continued success with your thriving business.

Sincerely,

Cash, Cole

Marketing/Communications

Ninth Retirement Letter Sample

Norman, Jamie

2366 Hanover Street

Whitestone, NY 11357

555-555-5555

jamie.norman@email.com

15 October 2022

Mr. Lippman

Head of Pendant Publishing

600 Madison Ave.

New York, New York

Respected Mr. Lippman,

Please accept my resignation effective‌ ‌November‌ ‌1,‌ ‌2022.

Over the course of my ten years at Pendant Publishing, I’ve had a great deal of fun and I’m quite grateful for all the assistance I’ve received.

It was a pleasure to wake up and go to work every day because of our outstanding corporate culture and the opportunities for promotion and professional advancement available to me.

While‌ ‌I am excited about retiring, I am going to miss being part of our team. ‌It’s my hope that I’ll be able to maintain the friendships I’ve formed here for a long time to come.

In case I can be of assistance prior to or following my departure, please let me know. ‌If I can assist in any way to ensure a smooth transfer to my successor, I would be delighted to do so.

Sincerely,

Signed (hard copy letter)

Norman, Jamie

Tenth Retirement Letter Sample

17 January 2023

Greg S. Jackson

Cyberdyne Systems

18144 El Camino Real,

Sunnyvale, CA

Respected Mrs. Duncan,

I‌ ‌am‌ ‌writing‌ ‌to‌ ‌inform you that I will be resigning from Cyberdyne Systems as of March 1, 2023. I’m grateful to have had this opportunity, and it was a difficult decision to make.

My development as a programmer and as a more seasoned member of the organization has been greatly assisted by your coaching.

I have been proud of Cyberdyne Systems’ ethics and success throughout my 25 years at the company. Starting as a mailroom clerk and currently serving as head programmer.

The portfolios of our clients have always been handled with the greatest care by my colleagues. It is our employees and services that have made Cyberdyne Systems the success it is today.

During my tenure as head of my division, I’ve increased our overall productivity by 800 percent, and I expect that trend to continue after‌ ‌I‌ ‌retire.

In light of the fact that the process of replacing me may take some time, I would like to offer my assistance in any way I can.

The greatest contender for this job is Troy Ledford, my current assistant.

Also, before I leave, I would be willing to teach any partners how to use the programmer I developed to track and manage the development of Skynet.

Over the next few months, I’ll be enjoying vacations with my wife as well as my granddaughter moving‌ ‌to‌ ‌college.

If Cyberdyne Systems has any openings for consultants, please let me know. ‌It has been a pleasure working with you over the last 25 years. I appreciate your concern and care.

Sincerely,

Greg S, Jackson

Frequently Asked Questions

1. What is a retirement letter?

Retirement letters are formal letters letting your boss know you’re retiring. ‌Like a resignation letter, this lets your employer know that you will be leaving. ‌It should be noted that a retirement notice letter does not only announce your resignation, but also seeks‌ ‌retirement benefits.

Retirement letters are usually used along with verbal resignations to supervisors. ‌Consider scheduling a meeting before you submit your retirement letter so that you can discuss your plans. ‌‌‌You can expect this letter to go into your employee file along with your start date, compensation, and benefits information.

2. Why should you write a retirement letter?

Again, the purpose of your retirement letter is to let your employer know why you’re leaving. ‌A manager and HR department are usually aware of your resignation when you leave a job. In any case, submitting a retirement letter can help you end on a positive note with your employer. And it ensure they have all the paperwork they need.

Also, in your retirement letter, you let the company know your plans after working there, so they can find your replacement if necessary. Even after you send your retirement letter, you may need to keep in touch with your employer until your replacement is found.

3. What should be included in your retirement letter?

It should follow the same format as‌ ‌any‌ ‌formal‌ ‌letter. ‌In addition, your retirement plans should be included as well as some retirement-specific data. ‌However, the date may be the most important factor.

In some cases, benefits will be dependent on when you provide notice of your resignation as well as when you actually retire. ‌A date on the letter makes it easier to verify when you gave notice-and how long you gave-should human resources or senior management ask you.

In addition to your customary salutation, you should also address your letter to your boss or a supervisor who is responsible for you.

‌The body of the letter should state your intended retirement date (your last day) and any transition plans you have in mind. ‌In case you plan to assist in the transition or train a new employee, let them know what your intentions are. ‌Your availability may be limited to a certain‌ ‌time‌ ‌frame,‌ ‌like‌ ‌three‌ ‌months.

Remember to tell your employer your current job title, how long you’ve worked at the company and what your most significant accomplishments are. Your letter can be personalized by expressing your gratitude for your career at the company and providing details about‌ ‌your‌ ‌retirement‌ ‌plans. ‌Finally, include your contact information at the end of the letter.

4. Do I have to give notice?

Providing notice is not legally required‌ ‌– two‌ ‌weeks‌ ‌or‌ ‌otherwise. ‌However, your company may have a policy requiring‌ ‌it. ‌Also, the laws in some states do have some caveats.

You can check your contract, company handbook, or talk to HR to find out what retirement notice you need. ‌If you resign, the policy might be different.

It’s the standard business practice to give notice, regardless of your company’s policy. ‌It’s okay to do this for entry-level or junior jobs so the company has time to replace them.

However, middle managers, higher-level employees, and those with specialized skills may take months to replace. ‌Due to this, two weeks’ notice is more of a courtesy. ‌It’s a good idea to start preparing several months in advance.

Also, you’ll be able to make sure all projects you’re working on are finished during that time frame. ‌Also, you can prepare transition documentation that will help coworkers and your replacement.

5. What’s the best age to retire?

That depends on your financial situation, the state you reside, and retirement plan. ‌However, most people , the average American hopes to retire at 62. But, according to Gallup’s 2021 Economy and Personal Finance Survey, the current average retirement age is 66.

Just note the following:

  • Pre-tax retirement accounts, such as 401(k)s and IRAs, don’t allow withdrawals without a penalty until the age of 59 ½.
  • Social Security benefits can be taken as early as 62 years of age.
  • You aren’t eligible for Medicare until 65,
  • Your Full Retirement Age (FRA) will be between 66 and 67 years old depending on your birth year.
  • Social Security benefits increase by 8% each year between the ages of 67-70 if you haven’t taken them yet.

The post Letter of Retirement Sample Ideas appeared first on Due.

Entrepreneur Editors' Picks