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Old 08-11-2017, 01:15 PM   #41
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Quote:
Originally Posted by Exrook View Post
The $281K looks like a lump sum PV, as just after that OP says:



Looks like their pension income will be just under $36k, leaving $64k to be covered by other means.
Exrook has it correct. The $281K would be a lump sum. If our pensions were $281K per year we would have quit long ago.
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Old 08-11-2017, 07:55 PM   #42
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Hopeful,

I have read lots of these sorts of posts with questions much like yours.

Never have I read one with such a clear answer.

Do what you want - you are financially set.
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Old 08-12-2017, 07:14 AM   #43
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Doh! Yes, of course! I knew I was missing something. Thanks! Still, $230k seems an awful low lump sum for a $2900/mo pension. I'd take the annuity in a heartbeat. Unless the lump sum is age 55 and no option to collect monthly pension until 65, then it's another consideration. Private pensions are usually allowed (reduced) at 55. Bottom line though is I agree with everyone else, y'all are ready to FIRE now. Part time easement is just a security blanket and comfort realization. Very nice job!
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Old 08-12-2017, 07:19 AM   #44
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Still sounds a bit off ...3900/mo seems way high for that lump sum option.
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Old 08-13-2017, 04:10 AM   #45
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The lump sum amount is frozen and will not grow much since it pays a fixed rate less than 1%. The monthly NON Cola option is correct for DW is $2900 month joint life. She has been there long enough to be grandfathered into a better plan. As with all pensions they could change the terms, so the lump sum is probably the only thing I will count on when deciding on ER. If the annuity terms are the same at 65 we obviously would go that route.
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