Delawaredave5
Full time employment: Posting here.
- Joined
- Dec 22, 2004
- Messages
- 699
Spouse has a defined benefit Megacorp pension. Retiring at 58. Megacorp is "shaky".
If pension got transferred to PBGC and if her benefit got capped at maximums listed below link, is her monthly benefit "set for life" or would it go up as she got older ?
Example: Let's say pension under Megacorp will be $5,000/month. If passed to PGBC when she was 60, look like maximum benefit would be reduced to $3,257.38.
Will it stay at $3257.38 for life ? Or go up each year until hitting original Megacorp amount ? (ie, would her payout go up each year to age 64 getting $4,660.56 ?) Thanks !!!
Maximum Monthly Annuity Guarantees, Pension Benefits
If pension got transferred to PBGC and if her benefit got capped at maximums listed below link, is her monthly benefit "set for life" or would it go up as she got older ?
Example: Let's say pension under Megacorp will be $5,000/month. If passed to PGBC when she was 60, look like maximum benefit would be reduced to $3,257.38.
Will it stay at $3257.38 for life ? Or go up each year until hitting original Megacorp amount ? (ie, would her payout go up each year to age 64 getting $4,660.56 ?) Thanks !!!
Maximum Monthly Annuity Guarantees, Pension Benefits