I know a guy who recently retired and hadn't taken a sick day in 37 years.
It was a government job and he was in a union, so he had all that sick time banked and got paid for it at the full rate; 8 hrs x 12 months x 37 years x his hourly rate. Tack on to that he also got paid at the full rate for all his banked vacation time, which IIRC amounted to another full years pay.
Not only that, but that checks gross plus his wages for that year counted in calculating the 5 year average that his retirement wages were based on.
Bottom line he walked out the door with a check that grossed over $200,000 and a monthly retirement pay that was so close to what he made while he was working that the difference was negligible.
Not to mention that he was eligible for Social Security within a year of retiring, he's a very young 66, and at his income he got close to the maximum benefit.
It was a government job and he was in a union, so he had all that sick time banked and got paid for it at the full rate; 8 hrs x 12 months x 37 years x his hourly rate. Tack on to that he also got paid at the full rate for all his banked vacation time, which IIRC amounted to another full years pay.
Not only that, but that checks gross plus his wages for that year counted in calculating the 5 year average that his retirement wages were based on.
Bottom line he walked out the door with a check that grossed over $200,000 and a monthly retirement pay that was so close to what he made while he was working that the difference was negligible.
Not to mention that he was eligible for Social Security within a year of retiring, he's a very young 66, and at his income he got close to the maximum benefit.
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