How much notice should you give your company before you decide to retire?

Although some companies only ask for those who are retiring to provide a notice of 2 weeks, the employee may need to give notice of at least a month if they have 401(k) and employee pension plans, warns the Chicago Tribune. The reason for this longer notice is the exit paperwork that needs to be filled out for the employee to receive their benefits.

Employees shouldn't announce their retirement until they're financially prepared as well. They may have leftover company vacation days that need to be used or else lost, and they also need time to review information about the retirement benefits and healthcare benefits they'll receive. Announcing a retirement too early, however, could cause a company to dismiss the employee before the planned retirement date, warns CNBC.