Chuckanut
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Given the recent Detroit ruling, I decided to take a look at what might happen should my pension be reduced. (There is no reason to think it will be reduced at this time.) I looked at both an elimination of the partial COLA and a reduction in the payment of 20%. Over 35 years the COLA reduction is more harmful reducing my success rate to 93%. The reduction in the payment reduces the success rate to 94%. Factoring in both a reduced pension amount and no COLA I found my success rate dropped to 91%. All percentage are rounded to a whole number. Reducing my expenses by 10% brings me back to a 100% success rate with both a reduced payment and no COLA. Modest desires certainly help to keep the expenses down and the success rate high. One request: please don't turn this into another discussion of public versus private retirement plans.
Last edited: