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Old 05-14-2006, 12:15 PM   #1
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Introduction

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
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Re: Introduction
Old 05-14-2006, 01:47 PM   #2
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Re: Introduction

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.



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Re: Introduction
Old 05-14-2006, 03:54 PM   #3
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Re: Introduction

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.
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Re: Introduction
Old 05-14-2006, 03:59 PM   #4
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Re: Introduction

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.
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Re: Introduction
Old 05-14-2006, 04:01 PM   #5
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Re: Introduction

Razorback fan!
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Re: Introduction
Old 05-14-2006, 04:45 PM   #6
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I can hear it now, woo pig sooie. Just don't holler too loudly. Welcome.
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Re: Introduction
Old 05-14-2006, 05:26 PM   #7
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If the Pension was fully indexed and had full survivor benefits,a nd had Health benefits, I'd opt for 20 years.

Less taxes as well.
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Re: Introduction
Old 05-15-2006, 06:34 AM   #8
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Re: Introduction

I ran the options for 10 years and lifetime and the 10 year wins everytime. I'll try the 20 year option and see what shakes out.

Thanks
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