Bimmerbill
Thinks s/he gets paid by the post
- Joined
- Jan 26, 2006
- Messages
- 1,645
OK, I am getting myself confused. I am a federal employee and my salary is based on longevity. The salary table is published each year and usually reflects a COLA.
If I have 16 years left until I retire, I will be maxed on the payscale. So, how do I estimate my pension? Since my pension and salary are COLA'd, can I take todays max salary from the payscale and figure out the pension? It would be in todays dollars, but could it represent 16 years from now dollars due to the COLA?
Or should I run the math and add 2% a year for 16 years to get a much higher number, then figure pension? That would be in 2026 dollars...
If I have 16 years left until I retire, I will be maxed on the payscale. So, how do I estimate my pension? Since my pension and salary are COLA'd, can I take todays max salary from the payscale and figure out the pension? It would be in todays dollars, but could it represent 16 years from now dollars due to the COLA?
Or should I run the math and add 2% a year for 16 years to get a much higher number, then figure pension? That would be in 2026 dollars...