ziggy29
Moderator Emeritus
Good point. I have a pension waiting for me from a past employer -- the first Megacorp I worked for from 1987 to 1999, and they froze the pension even before I left. But since I stuck it out for more than 10 years, I was vested in what I earned before they froze it.Not only that, just because they say they are getting a DB pension doesn't mean that it's a substantial pension, or fully COLA'd. Most of the people I know with pensions don't have any COLA and the dollar value doesn't amount to a hill of beans anyway.
If I take the 100% survivor option, it's going to be about $270 a month in 2020 at age 55 or about $630 a month in 2030 at age 65. And those are not COLA'd amounts.
So do I have a pension waiting for me in retirement? Yes. But it's hardly a significant factor in my financial planning. Better than nothing, sure, but not something that significantly changes my retirement planning.