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View Poll Results: Do you have a pension?
Government Pension 166 29.23%
Corporate Pension 195 34.33%
No pension, just SS & savings 207 36.44%
Voters: 568. You may not vote on this poll

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Old 05-26-2021, 10:27 PM   #241
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Again, somewhat surprising that the "early" retirement board consists mostly of pensioners.
In the past some Megacorps allowed you to collect pensions fairly early. I started at Megacorp at 21. by age 51 with 30 years I was eligible to retire with a pension. It was not small at that point, and with a lower desired lifestyle I could have retired, but chose to keep working for 9 more years so it grew to support our desired retirement lifestyle (and I liked my job so it wasn't a chore).
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Old 05-27-2021, 01:27 PM   #242
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Kinda off topic but for anyone starting out, there are still companies that offer pensions. UPS is one of them.
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Old 05-27-2021, 08:22 PM   #243
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Two military pensions,DW SS, and two V
VA Disability payments, rental income and interest income on a note we hold. Our retirement savings are for LTC at this point. Total about $150K annually.
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Old 05-27-2021, 09:35 PM   #244
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Congrats on your wonderful pensions. Wow. Are you aware of the WEP and GPO provisions in relation to Social Security benefits (how they are impacted by your government pensions)? These laws greatly impact my husband and myself, so much so that I will not receive a spousal or survivor benefit from DHís Social Security. Also, his SS benefit is reduced by $330/month due to the WEP. I find that many people who have/will have government pensions are unaware of these two very important laws.
Several folks here over the years have commented on the WEP and GPO provisions as it applied to their gummint pensions. I understand it can be a substantial effect (never in gummint service myself - except paying all those taxes) I would doubt too many folks here to whom it applies would be blind sided by it personally if that was a part of your question.(?) YMMV
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Old 05-28-2021, 05:56 AM   #245
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Again, somewhat surprising that the "early" retirement board consists mostly of pensioners.
On average, if person A draws two cards (investments and SS) and person B draws three cards (investments, SS, and pension), person B will usually win.
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Old 05-28-2021, 07:19 AM   #246
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When comparing the value of a pension to savings I ( like many here) use immediateannuities.com to estimate the equivalent cash value. It's been a while since ive done so and I just found that, much to my surprise, my pension is now 'worth' 20% more than the day I started drawing it - despite me being almost 5 years older and having drawn those years of payments from it. Interest rates must be REEALLY low for that to happen.
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Old 05-28-2021, 12:30 PM   #247
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Both wife and I are drawing government pensions totaling $11.4K/mo plus a $1.9k stipend for healthcare. Also paid into and will get Social Security in a few years.

Havenít touched a dime in various IRAs, 401(k) or 457 plans since retirement.
Geeeez - must be nice! My DW didn't have much chance to make income, what with various health problems (e.g., well over 10 years fighting brain cancer) and other concerns along with filling the primary role in raising the kids. My own government pension totals a little over $7K/mo and I thought I was doing well! I'm hoping to see a raise of a little over $1K/mo soon, but even in the absence of that we're still not touching much of the egg; only for things we really want. It's really super to be debt free with home & auto fully paid. We'll also draw Social Security in a few years but who knows what'll happen with SS, right? I'm very thankful - it's a retirement I didn't think we would have once upon a time.
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Old 05-30-2021, 12:57 PM   #248
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Originally Posted by jazz4cash View Post
Thatís sounds good but Iím not sure what it means.
IMeant there is a good chance I won't outlive my money.
(A FIRE concept )
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Old 05-30-2021, 01:15 PM   #249
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Originally Posted by jollystomper View Post
In the past some Megacorps allowed you to collect pensions fairly early. I started at Megacorp at 21. by age 51 with 30 years I was eligible to retire with a pension. It was not small at that point, and with a lower desired lifestyle I could have retired, but chose to keep working for 9 more years so it grew to support our desired retirement lifestyle



(and I liked my job so it wasn't a chore).
Rereading this I had periods where I loved my j*b and periods where I became nearly catatonic because I didn't want to go in for weeks - heck years - at a time. It occurred to me that "liking" what you do is even more blessed than a pension, but very much a YMMV.
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Old 05-30-2021, 01:44 PM   #250
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Rereading this I had periods where I loved my j*b and periods where I became nearly catatonic because I didn't want to go in for weeks - heck years - at a time. It occurred to me that "liking" what you do is even more blessed than a pension, but very much a YMMV.
I certainly agree that liking what you do, how you're spending your life, can be more important than money (within reasonable constraints). It's so, so sad to read stories here on the forum posted by folks who spent years and years of their lives loathing what they did with their time. That is simply life's capital (time) being pissed away. And unlike investments, once lost/wasted/squandered, time never recovers.

And, yes. YMMV.
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Old 05-30-2021, 02:22 PM   #251
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Originally Posted by stepford View Post
When comparing the value of a pension to savings I ( like many here) use immediateannuities.com to estimate the equivalent cash value. It's been a while since ive done so and I just found that, much to my surprise, my pension is now 'worth' 20% more than the day I started drawing it - despite me being almost 5 years older and having drawn those years of payments from it. Interest rates must be REEALLY low for that to happen.

Yep. I have a very modest pension, but I'm very happy to have it. All I have to do is stay alive in order for that monthly check to keep coming in.
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Old 05-30-2021, 07:44 PM   #252
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Technically I do but not sure if I would get anything. I worked partial 2005 and full 2006 year. Fidelity website says to call so I will do just that and find out.
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Old 05-30-2021, 08:16 PM   #253
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Yep. I have a very modest pension, but I'm very happy to have it. All I have to do is stay alive in order for that monthly check to keep coming in.
Yes, I'm planning to stay alive until age 112 minimum ..
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Old 05-30-2021, 09:36 PM   #254
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Yes, I'm planning to stay alive until age 112 minimum ..
What if you live beyond 112?
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Old 05-30-2021, 10:01 PM   #255
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IMeant there is a good chance I won't outlive my money.

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Ok. As long as itís not because the end is near...
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Old 05-30-2021, 11:18 PM   #256
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Got a fat state government pension with 2% max COLA (now at $8700/month), and SS of $1600/month, taxable account income federal tax free of $1200/month.

So, the RMD's required out of my tIRAs, of about $6700/month present me with the opportunity each year to decide to which 501c(3) charitable organizations to make Qualified Charitable Distributions to, and how much to give each one. Presents me with a gratifying but sobering need to discern what organizations reflect my values, and where and how I can make maximum impact to further those values. I am in the enviable position of being able to make sizeable enough donations to be very impactful to some organizations.
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Old 06-02-2021, 04:18 PM   #257
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Congrats on your wonderful pensions. Wow. Are you aware of the WEP and GPO provisions in relation to Social Security benefits (how they are impacted by your government pensions)? These laws greatly impact my husband and myself, so much so that I will not receive a spousal or survivor benefit from DHís Social Security. Also, his SS benefit is reduced by $330/month due to the WEP. I find that many people who have/will have government pensions are unaware of these two very important laws.

Thanks. As I was nearing retirement I met with a Social Security representative on this item. He reviewed my file, provided me with a written estimate, and confirmed that under current laws I will not impacted by WEP or GPO.

My wife on the other hand was a very part-time school teacher as her second career and unfortunately will be impacted.
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Old 06-02-2021, 04:46 PM   #258
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On average, if person A draws two cards (investments and SS) and person B draws three cards (investments, SS, and pension), person B will usually win.
Ok, but the point I am making is somewhat different, although I realize the poll does not provide enough information to draw solid conclusions. But it *suggests* workers who do not draw pensions are far less likely to be able to retire early.

Most people here draw pensions according to the poll. Yet most workers do not have access to them (never did but it is worse now).
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Old 06-02-2021, 05:00 PM   #259
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Again, somewhat surprising that the "early" retirement board consists mostly of pensioners.
I would not draw that conclusion at all.

An unknown % of board members clicked on this thread and responded. 533 votes in several weeks is not a big sample of visitors.
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Old 06-02-2021, 05:04 PM   #260
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Again, somewhat surprising that the "early" retirement board consists mostly of pensioners.
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I would not draw that conclusion at all.

An unknown % of board members clicked on this thread and responded. 533 votes in several weeks is not a big sample of visitors.
And keep in mind many of the "pensioners" have mini or micro pensions.

Mine is $105/month
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