Being pushed into retirement and the emotional toll

I work for a large organization that is facing some financial challenges. They have identified employee categories and roles that can be targeted for reduction and cost savings and I fit the criteria. I am almost 61 and I lead a project that is being cut to save costs. So I am being invited to "retire".

I wasn't prepared to fully retire. I will be collecting a generous pension if I leave it for a few more years and it would be even better if I were continuing to work and contribute to the pension. HOWEVER they are sweetening the deal by giving those of us being asked to retire a very generous payout (I've checked around and it's extremely generous) and I can actually bank that and wait a while to let the pension grow a bit.

So for the past few weeks I've been working with very little to do while they move the staff who reported to me to other people and I prepare memos and presentations for people and I deposit things into document shares for future use etc... Most days I will attend an hour of meetings and whatever I am asked to do I can usually get done in less than an hour.

I went from leading a team of 30 people, responsible for multi-millions in salary budget and project cost budget, working with external providers and making critical decisions to editing other people's slide decks. I am so demoralized. This is an awful way to leave a job I've been with for some time. And there's just NO recognition because the senior leadership team is so focused on cost savings and protecting what they have left that people like me are just that savings number on a spreadsheet.

Retirement was supposed to be a decision I made when I was ready to make it. I have zero interest in hiring an employment lawyer to challenge all this. I don't want to waste my money. But just asking for advice from retirees in similar situations i.e. those of you who ended up retirees before you planned to and how you dealt with the emotional toll.