almost there
Thinks s/he gets paid by the post
- Joined
- Sep 24, 2008
- Messages
- 1,012
I always thought I would take the cash balance rather than the annuity option out of my neutered pension.
Back when I started with the Co. 27 yrs ago "Cash Balance" wasn't an option. (Or a real word)
It was 70% of your highest 3 yrs with the co.
with 25 or more years and 55.
I missed the pension grandfather clause (lost $250k in that one) back in 1999.
And now this pension is just a portion of my retirement mix.
So, when 55 I will have option of $335k cash balance or a 100% contingent annuity of $1670 per mo. until were both history.
(or 1840/919, 1718/1289, and 1670/1670 as mentioned above)
With all the hoopla / promotion these days about annuities thought I would throw the question out there. And no, its is not adjusted for inflation. The number will not go up or down.......
I never thought I would ask this question............
But am curious what you wise folks have to say.
added:
(We have no health issues at this time)
Back when I started with the Co. 27 yrs ago "Cash Balance" wasn't an option. (Or a real word)
It was 70% of your highest 3 yrs with the co.
with 25 or more years and 55.
I missed the pension grandfather clause (lost $250k in that one) back in 1999.
And now this pension is just a portion of my retirement mix.
So, when 55 I will have option of $335k cash balance or a 100% contingent annuity of $1670 per mo. until were both history.
(or 1840/919, 1718/1289, and 1670/1670 as mentioned above)
With all the hoopla / promotion these days about annuities thought I would throw the question out there. And no, its is not adjusted for inflation. The number will not go up or down.......
I never thought I would ask this question............
But am curious what you wise folks have to say.
added:
(We have no health issues at this time)