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View Poll Results: Which retirement benefits do you have (plan on having)?
Pension (non-COLA) & Soc Sec 37 13.91%
Pension (COLA) & Soc Sec 12 4.51%
Retiree Health Care & Soc Sec 11 4.14%
Pension (non-COLA), Retiree Health Care & Soc Sec 54 20.30%
Pension (COLA), Retiree Health Care & Soc Sec 63 23.68%
Soc Sec 89 33.46%
Voters: 266. You may not vote on this poll

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Retirement Benefits Poll
Old 11-25-2008, 06:06 AM   #1
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Retirement Benefits Poll

DW and I will have neither pensions nor retiree health care, and AFAIK that's becoming the norm if not already. But I am surprised by the number of people I read about here who have either or both. So a poll (apologies if this has been done before).
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Old 11-25-2008, 06:13 AM   #2
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Midpack - probably need to have a "none of the above" category. I will be eligible for SS under today's rules, but the rules may change, and/or SS may go belly up by the time I am eligible. Therefore, in my projections SS is never included....thus I have not voted.

R
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Old 11-25-2008, 06:58 AM   #3
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I am still w*rking and intend to ER at 55.

I have a non-cola DB pension... but if I ER, the amount I get is reduced based on the age at ER... plus I will have fewer years of time with the company than if I stuck it out till 62 or 65.... therefore it will only cover about 30% of our base income needs (expenses). However, I have planned for higher expense during ER so DW and I can travel therefore it is only about 15% of planned income.

DW had a generous cash contribution plan (of sorts) with Mega Corp. The investments have grown over the years.... Of course, the investments have suffered over the last year. If she purchased a joint life annuity the current asset value would cover about 75% of her final wages. Before this market setback, it would have purchased a joint annuity for 100% of her wages (She is not planning on doing this... but it provides some perspective)

We both have SS and Retirement Health Care. Of course, Retirement Health care is not guaranteed. The companies could take it away or jack up the premium. We plan to hold on to both plans (her company and mine) at least until medicare kicks in just in case one of the companies drops the plan.


We have other accounts... 401k, IRAs, and Taxable.
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Old 11-25-2008, 07:29 AM   #4
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Going to be interesting to see how this shakes out if there is a large response. We are in the COLA'd Retired Pay, SS, with Health Care Covered, category.
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Old 11-25-2008, 07:33 AM   #5
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Gotta love being retired military....

COLA Pension

Health Care

and eventually SS
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Old 11-25-2008, 07:34 AM   #6
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Going to be interesting to see how this shakes out if there is a large response. We are in the COLA'd Retired Pay, SS, with Health Care Covered, category.
Also known as the "belt, suspenders, and extra set of coveralls" category.
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Old 11-25-2008, 07:46 AM   #7
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Non COLA pension.
2 x SS. DW is taking hers, I'm waiting till at least FRA.
Company healthcare for me till 65 and then Medicare. DW has Medicare and a complement plan with drug coverage on my work plan.

I guess our retirement is the typical old three legged stool approach. Pension, SS, savings.
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Old 11-25-2008, 08:19 AM   #8
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One Non Cola and one cola pension. Both are available at 55 reduced or 62 full once we reach that age. We are on our own until then. Currently 44 and Semi-retired.
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Old 11-25-2008, 08:24 AM   #9
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Boat are available...
You really are a serious fisherman, eh?
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Old 11-25-2008, 08:33 AM   #10
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Old 11-25-2008, 08:33 AM   #11
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In 4.5 years, I'll qualify for a very modest non-cola pension. Already have subsidized retiree health insurance, and expect to take SS at 62.
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Old 11-25-2008, 08:37 AM   #12
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Midpack - probably need to have a "none of the above" category. I will be eligible for SS under today's rules, but the rules may change, and/or SS may go belly up by the time I am eligible. Therefore, in my projections SS is never included....thus I have not voted.

R
Second this suggestion, for the same reason. SS may also become means tested, thereby excluding many thrifty and/or honest people...
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Old 11-25-2008, 08:44 AM   #13
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I hope to RE before SS age. I am also concerned about future SS changes, so I would have voted "none"
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Old 11-25-2008, 08:49 AM   #14
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Agreed with the need for a 'none' category. I am not planning on it being their in 20 years, or at the very least, means tested so there will be none for me (which is fine, it is what I have planned for).

Otherwise, no pension, no health care benifits.
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Old 11-25-2008, 08:51 AM   #15
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I would not fall into any of your given categories. I have a Pension, but will not be eligible for SS....even though I worked and paid into it for 10 years before starting my teaching career. I will not be eligible for my husband's SS if he should pass. Health insurance is available through my pension plan, but is very expensive. (In addition to my pension, I have a 403B and 457 Plan that, of course, like everyone else's has dropped significantly in the past few weeks) I recently retired and have not rolled the 403B and 457 into an IRA. I don't know what direction I will take on that, I am still trying to decide. Any advice welcomed!
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Old 11-25-2008, 08:53 AM   #16
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Subsidized retiree health care
Partly COLA pension
(decreases at 62 and becomes full COLA)
Eligible for small SS, have not yet decided on age (58 now)

TSP
Small IRAs
CD ladder
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Old 11-25-2008, 09:47 AM   #17
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Subsidized retiree health care
2x COLA'd pensions
2x Tiny SS's (enough to cover Medicare Pt B and a little more)

TSP
IRAs, Roths, 403b
Taxable Accts


Quote:
Looking Ahead - (In addition to my pension, I have a 403B and 457 Plan ... I recently retired and have not rolled the 403B and 457 into an IRA. I don't know what direction I will take on that, I am still trying to decide. Any advice welcomed!
Looking Ahead, Don't know what kind of 403b you have but if I had an expensive 403b that is typical of local school districts I'd be tempted to roll it over into a Vanguard or Fidelity IRA ASAP to reduce the expenses.

Also, with 'good' 10 years credit in SS you should at least get enough to cover Medicare Pt B and a little more, depending on your Teachers Pension amount.

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Old 11-25-2008, 09:52 AM   #18
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ER'ed at 48. I have nothing except my investments, and expect SS to be means-tested away from me by the time I get there.
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Old 11-25-2008, 10:35 AM   #19
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Yeah I chose "Soc sec" because I definitely won't have any of the other benefits, but I doubt whether I'll have any social security either. I would have selected "none of the above" had that been an option.
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Old 11-25-2008, 10:41 AM   #20
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Nothing but SS for me. But, hey, that makes FIRE-ing a more challenging and interesting game, doesn't it?
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