Hi,
I will be 55 may 20 2009 I have a chance to retire as of rune 1 2009, I will get 95 % of my pension after that it will go down to 90%(i would be losing $160/month) .Then it will go down to 88% Jan 2010 then gradually go back up to 100% when you reach 60 years of age. I am a construction electrician and the work has been very spotty maybe if I am lucky I would work 5 months out of the year. Where I work at web had an actuary come in and our pension fund is not doing so good because of the market .
I would be eligible for $ 2500 per month by the time I take fed with holding taxes out and health insurance it would be about 2200/month.
If I stay the next 5 years our multiplier is $50/year of service and I would only get about 70% of that which would be $35 dollars which would be another $175 /month I am just wondering if it is worth while hanging around .
I feel to young to retire but I would like to make an educated financial decision .
Thanks in advance ,
Ralph
I will be 55 may 20 2009 I have a chance to retire as of rune 1 2009, I will get 95 % of my pension after that it will go down to 90%(i would be losing $160/month) .Then it will go down to 88% Jan 2010 then gradually go back up to 100% when you reach 60 years of age. I am a construction electrician and the work has been very spotty maybe if I am lucky I would work 5 months out of the year. Where I work at web had an actuary come in and our pension fund is not doing so good because of the market .
I would be eligible for $ 2500 per month by the time I take fed with holding taxes out and health insurance it would be about 2200/month.
If I stay the next 5 years our multiplier is $50/year of service and I would only get about 70% of that which would be $35 dollars which would be another $175 /month I am just wondering if it is worth while hanging around .
I feel to young to retire but I would like to make an educated financial decision .
Thanks in advance ,
Ralph
Last edited by a moderator: