Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 08-20-2011, 10:09 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
Join Date: May 2009
Posts: 7,678
Originally Posted by arebelspy
My pension (Nevada) adjusts but is not tied to CPI.

It stays the same years 1, 2, and 3.
Then goes up 2% years 4, 5, 6.
3% years 7, 8, 9.
3.5% 10, 11, 12.
4% years 13 and 14.
And 5% year 15 and every year beyond that.

(That's part of the reason I'm thinking about retiring a decade before eligible and taking a hit on the amount I'm getting, to max the COLA earlier).

I do not know (on my questions to ask) if it is compounded or on the base amount.
Make sure you have all your contingencies ready financially if you decide to retire earlier, as I know of several states that have reduced COLA'd pensions for existing retirees. Pension reform isn't only being directed at newcomers before they get hired anymore. There has been a lot of reform going on. I'm not a chicken little but who knows what will happen in 10 years. The earlier you retire, the more impact it could have on you. Pensions and COLAs are usually guaranteed by law, but that doesn't guarantee they won't change the law. As I read more about this there are 3 types of government pensions now. 1) Ones that are being proactive in reducing benefits to ensure the soundness of the system 2) Ones that are sticking their heads in the sand and hoping the problem takes care of itself 3) Fully funded systems. The fewest systems are probably number 3 I believe.

Mulligan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-21-2011, 12:55 AM   #22
Full time employment: Posting here.
arebelspy's Avatar
Join Date: Apr 2011
Posts: 625
I'm planning on my pension income being a very small part of my overall income.

arebelspy is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 04:35 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.