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hogwild · 05-14-2006, 01:15 PM

I've been reading the posts here for a few months. It's a great forum and I read it everyday. I have finally got around to registering and I hope that I can contribute as well as learn. I have plans to ER in about 31 months (end of '08). I am an engineer for a large telecommunications company and have been with the same company over 30 years.
Anyway, thanks for all the information and tips so far.

hogwild

samclem · 05-14-2006, 02:47 PM

Hogwild,

Welcome aboard. By the way, only an engineer would write "I plan to retire in about 31 months"

30 years in one company--that's unusual today. Lots of folks in that position are considering taking the lump-sum instead of a monthly check from their defined-benefit plan. I guess it depends on how the numbers work out and your assessment of the company's (or its successor's) ability/willingness to keep their promisses.

Nords · 05-14-2006, 04:54 PM

Welcome to the board, Hogwild. Like the man said to Dirty Harry, "I gots to know": how did you choose your poster name?

Quote:

Originally Posted by samclem

I guess it depends on how the numbers work out and your assessment of the company's (or its successor's) ability/willingness to keep their promisses.

After 30+ years with CBS my FIL took the lump sum and ran for exactly those reasons.

hogwild · 05-14-2006, 04:59 PM

Sam,

Thanks very much. *Yeah, I'm afraid the engineer in me is know part of my DNA. *I get that kind of comment all the time.
I'm fortunate that I will have a pension as well as a lump sum profit sharing distribution. *My company is ceasing adding to the existing pensions in 3 years. *New hires will not get a pension. *That is the trend now days.
I do have decisions to make as to the pension. *I have the option to take a lifetime pension or take an approximately doubled amount for 10 years only. *I think I will take the latter.