Poll: Do you have a pension?

[2177V]

Government Pension
Corporate Pension
Just savings & Social Security

I have 2 government pensions: (1) CSRS pension after 34 years as a federal worker & retired at age 55. (2) Cal-Pers pension after 10 years as a county worker & retired at age 65.

 

[stedmakr]

Worked for 43 years after college and have a military pension (30yrs) and a federal pension for the remaining 13.

 

[UnrealizedPotential]

Mine is like yours - $365/mo - corp pension (no COLA). It is so tiny but it is still much better than a kick in the butt .

I haven't spend any of it yet, and it's not in my retirement budget/calculations.

I'm in the same boat. Better than nothing, but certainly nothing to get excited about.

 

[desmo_rob]

Worked at a university for about 26 years. State pension about 65K annually. I'll know more precisely when my first check arrives in about 30 days!

Working a few more years at another job (remote!!) with far fewer responsibilities but similar income in addition to my pension. I will probably slowly taper off hours and stop around 62 or so.

 

[Whisper66]

FWIW - Wasn't sure how to answer. I think of a pension as a periodic payment. My company offered a lump sum OR a periodic payment. I took the lump sum and answered "no pension".

 

[scrabbler1]

Am I the only one impressed that each of the 3 categories have nearly the same number of votes?

 

[kcowan]

Corporate DB Pension non cola w/100% survivor benefit to my Ex

Gov't Old Age Security payment subject to clawback based on income

Government contributory pension plan

Savings/investment income to cover the other 80%

Been retired for 19 years. So far so good.

Probability of success is now over 100%

 

[jazz4cash]

Probability of success is now over 100%

That’s sounds good but I’m not sure what it means.

 

[habelsgtb]

I have state government and corporate.
DW has corporate.

 

[Calico]

I have a defined benefit mini-corp pension. It is equal to 60% of the average of my final high five.

The pension pays all my bills, allows me to save a bit, and allows me to delay Soc Sec until age 70.

I thank my lucky stars every single day that I signed on with that company back in 1995. I thank my determination and pure stubbornness that I held on for four years through one really horrible bully-boss aka Voldemort.

During the Voldemort years, I had a sign taped to my computer "E.O.T.P." It was short for "Eye on the Prize (Pension)."

 

[skyking1]

^Well done! ^

 

[cyber888]

Nothing - no pension at all. Just savings and SS

 

[skyking1]

My pension is based on hours worked plus a small percentage increase after 60 on part of it. The incentive is there to keep working and adding to it. This forum has cemented the idea of ignoring the OMY devil on my shoulder. For that i am thankful!

 

[Calico]

^Well done! ^

Thank you.

And to think my family said stubbornness wasn't a positive quality when I was growing up!

 

[brett]

Megacorp went through downsizing for the last 20 years.

Our DB pension was locked in at age 55. If an employee was let go prior to that they rec'd the commuted value. The value of the DB plan increased substantially post age 55.

I was very thankful after I turned 53/54. I knew that if I was cut my severance package would take me to 55 and I would be locked in . Fortunately I was able to leave on my own with a golden handshake at 59. My last 5 years were by far my most lucrative in terms of pensionable earnings. That number included salary and substantial performance bonuses. The last five were banner years.

 

[kgtest]

Government Pension
Corporate Pension
Just savings & Social Security

Corporate . But I doubt it lasts as other firms are attempting takeover and my guess is it becomes a cash-out at some point in time. Not worth much, non COLAd and will only provide maybe 5 to 10% of our total spend in retirement...

 

[TheWizard]

That’s sounds good but I’m not sure what it means.

Right.
Maybe 150% probability of success includes nightly fireworks, kinda like Disney World...

 

[beandf808]

Small pension

Received a small pension at 55.
Only 3,100 per month but it's nice to have.

 

[Koolau]

Received a small pension at 55.
Only 3,100 per month but it's nice to have.

Heh, heh, just like "rich" and "enough", I guess we need to define "small" since YMMV.

 

[HI Bill]

No pension, but I do have stock in an ESOP (employee stock ownership plan). No guarantee of value, especially now that the company went public. Can't cash out until 62. The stock price has gone up 84% since it went public, but there's no guarantee that in 7 years it will be as high.

 

[Calico]

Heh, heh, just like "rich" and "enough", I guess we need to define "small" since YMMV.

I must have an outdated dictionary.

 

[purplesky]

I have 2 corporate (union) pensions (cough) which kind of sucks because I am still working to maximize my monthly payout.

I have over $2 million in my portfolio so why am I still working at this point? Age 58 with a super affordable health care option to get me to age 65.

Not one coworker is familiar with the FIRE movement which I find very strange?

Also all the full pension amount guys (30 years) I work with are still working because their wives are making them. lol

 

[kblagron]

I have an interesting one - After working 19-1/2 years for Company A, Company B bought us. Fortunately we were grandfathered into our old plan. I worked 1-1/2 years for Company B, and decided to move on. Because I was grandfathered in, I received a lump sum for those 19-1/2 years payable at age 50. The 1-1/2 years at Company B was not included in the lump sum, so they send me a whopping $31.84 check each month for that time. I am going on 12 years with that $31.84 check coming in each month. No telling how much it takes to keep up with me and send out that check, but it seems like they should of just paid me a lump sum for that 1-1/2 years and moved on. Corporate bureaucracy at its finest.

 

[Nick12]

Yes and I collect it at age 55 which is in less than 1 year. I have to call the pension company when I turn 55 or else the pension plan cannot be activated.

 

[Perryinva]

Yea, I don’t know where a $3100/mo pension at 55 is considered small...