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Old 07-01-2020, 09:57 AM   #21
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Join Date: Apr 2012
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For my pension (non-cola) :
- 75% J&S payment was 89% of the 100% payment
- 50% J&S was 92% of the 100% payment
FIREd date: June 26, 2018 - wwwwwwhat a rush!
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Old 07-01-2020, 12:20 PM   #22
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Join Date: Feb 2013
Posts: 56
My pension in California has the following numbers:

Joint - Survivor benefit

100% I get 83% of full pension

75%. I get 87% of full pension

50% I get 92% of full pension

I made my decision at age 55 that I would take the 100% survivor benefit. It was a no brainer for me because my wife will most likely outlive me since there’s a 14 year gap in our ages. Making the decision at age 55 has an advantage in that I received a higher percentage of my pay so in my case 100% joint survivor benefit above that states 83% is really 88% of my full pension. We also have a pop up provision with our pension so that if my wife should die first, I would then receive my full pension.

Everyone should read up and be aware of their pension benefits early on in their career. I talk with my new teachers about this constantly, because decisions they make over the years can have significant impacts on them when they want to retire. Making the survivor election early or not and its advantages or disadvantages can only be considered if you even know that option exists. Many people have no clue until right before they decide they want to retire.

In this case of the OP, it seems it’s best for them to do as they have planned since its small.
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Old 07-01-2020, 12:53 PM   #23
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Originally Posted by pb4uski View Post
Here were our numbers at age 65 (but DW is same age rather than 3 years younger):
.......................................... Ee.......Survivor
Single life.......................... 100%......0%
Joint and full...................... 87%....87%
Joint and 2/3 (no 75%)....... 96%....64%
Joint and 50%.................... 101%...51%

We ended up chosing Joint and full with 10 years guaranteed, which was only $5/month less than Joint and full.
OK, I give up! What does the second column of numbers represent? And what is Ee?
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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Old 07-01-2020, 01:02 PM   #24
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Originally Posted by jazz4cash View Post
OK, I give up! What does the second column of numbers represent? And what is Ee?
The second column is what the spouse will receive of the full pension when the pensioner dies. So let’s say the full pension is $3000 per month. For example,

100%…0 means the husband gets the whole $3000 each month he’s alive, but when he dies she gets nothing as in $0

87%…87% means the pensioner would receive $2610 while he’s alive and the wife would receive same $2610 when he passes.
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Old 07-14-2020, 06:28 PM   #25
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Join Date: Aug 2012
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Originally Posted by target2019 View Post
I think your answer may be very different, but here are actual numbers from someone who retired last year.
  • Single life, $1,741 (100.0%)
  • Lifetime with 10 certain, $1,620 (93.0%)
  • 50% Joint & Survivor, $1,560 (89.6%)
  • 75% Joint & Survivor
  • 100% Joint & Survivor, $1,414, (81.2%)

Well the paper work showed up.
No lump sum options.

single 100% 100% survivor 0%

single lifetime with 10 yr certain 93.4% survivor 0%(after 10 yrs)

joint and 50% 91.4% survivor 45.7%

joint and 75% 87.6% survivor 65.7%

joint and 100% 84.1% survivor 84.1%

Leaning towards the joint and 100%. Just makes the most sense for us.

Thanks for all your earlier replies
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