 Quote:
Originally Posted by aaronc879
My grandmother retired at age 55 with a COLA'd pension and she's now 93. It's a wonder how the government can afford to pay cola'd pensions to all those people who retire in their 40's and 50's with good paying jobs.
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Because the annuity is actuarially adjusted the amount paid is no more that other retirees with the same service record and length of service. Some die early, others much later. The expensive retiree is a survivor of a retiree who outlives their spouse many years.
Don't forget that compensation is correlated with changes in the cost of living too.
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Duck bjorn.
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