Before accepting or declining a company’s buyout offer, consider these things:

n Can you afford to leave the company early? Prepare a budget and lay out what you’ll need to live on.

nIf you leave, what nonsalary benefits will you be forfeiting? Stock options? Other benefits?

nHow attractive are the pension and retirement benefit sweeteners? How many years are you into your traditional pension? A pension grows the longer you work. Defined-benefit pension plans promise workers a specific monthly benefit at retirement. The amount of the benefit is usually based on factors such as age, earnings and how long you’ve worked for an employer.

nWill you have to pay for your own health insurance? Most buyout offers don’t include health coverage. Even if the company says it will continue your health insurance, check to see if the firm has the right to change or cancel the coverage at any time.

nIf you remain with the company, what are the chances you will be laid off? The gamble is that you’ll lose your job with no severance package at all or with a severance package that’s less attractive than the one you were originally offered.

nIf you accept the buyout, will you eventually get a job at another company and can you get another job at your age?

n Are you psychologically ready to stop working entirely? Is your spouse prepared to have you full time at home?

SOURCE: Dallas Morning News research