Retirement - What services does your country provide?
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@scottalanmiller said:
True. But it's closer to nothing
it pays the rent. As long as the senior only has rent as an expense, they'll be juuuuuuuuuuuuust fine.
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Solid pensions from both the company I work at and the one prior.
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@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
my second set of arms are crossed and I'm shaking my head
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@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
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@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
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@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
I have a government 457 from past jobs. I don't ever count on getting the money from it.. considering it is the government after all.
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@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
The projected gains (if you see them that way) of a plan like that are overshadowed by smart mutual fund management imho
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@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
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@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
It's so that you can go half time to train your replacement in the last months / year and take no hit on your pension
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@MattSpeller said:
@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
It's so that you can go half time to train your replacement in the last months / year and take no hit on your pension
How does it do that? If you take half time you would lower your average. It would make me never do half time or take any downgrade in pay.
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@scottalanmiller said:
@MattSpeller said:
@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
It's so that you can go half time to train your replacement in the last months / year and take no hit on your pension
How does it do that? If you take half time you would lower your average. It would make me never do half time or take any downgrade in pay.
Most are just your last year. With the average if you have any health issues or want to ease into it there's less effect on your pension.
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@MattSpeller said:
@scottalanmiller said:
@MattSpeller said:
@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
It's so that you can go half time to train your replacement in the last months / year and take no hit on your pension
How does it do that? If you take half time you would lower your average. It would make me never do half time or take any downgrade in pay.
Most are just your last year. With the average if you have any health issues or want to ease into it there's less effect on your pension.
Less than what? I've never heard of any plan that would have more of an effect on it.
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@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
How is this a screw though? Because what? you assume people in their last few years normally go part time instead of staying full time until retirement?
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@Dashrender said:
@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
How is this a screw though? Because what? you assume people in their last few years normally go part time instead of staying full time until retirement?
That's what he stated. He specifically said that people in their last few years were expected to go part time. This would totally hose them.
Lots of people slow down before totally retiring. Think about every person working at Walmart as a greeter. They made way more twenty years ago, I guarantee.
Lots of people from high demand fields make the most in their 40s and 50s, not 60s or 70s.
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@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
Actually I hate these types of systems, they allow employees to screw the employer/government.
The firefighters in Omaha have a plan like this - it's the last 6 years instead of three. So they just decide early when they plan to retire.. then they milk the damned clock for all they can possibly get, typically working 1.4 - 1.7 times normal driving their retirement numbers high.
Of course the city (or whomever is in charge of fire fighter schedules) is also to blame for this shit, because they should simply not allow those employees to have more than normal hours.
What's worse... Most Firefighters around here retire at 45-50 years old...
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@scottalanmiller said:
@Dashrender said:
@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
How is this a screw though? Because what? you assume people in their last few years normally go part time instead of staying full time until retirement?
That's what he stated. He specifically said that people in their last few years were expected to go part time. This would totally hose them.
Lots of people slow down before totally retiring. Think about every person working at Walmart as a greeter. They made way more twenty years ago, I guarantee.
Lots of people from high demand fields make the most in their 40s and 50s, not 60s or 70s.
yes, but he didn't mention about reduced hours until after you said it was terrible solution.
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@scottalanmiller said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
That REALLY screws people who try to do any work towards the end. That is an "early retirement system" for sure.
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@Dashrender said:
@MattSpeller said:
@Dashrender said:
@MattSpeller said:
Solid pensions from both the company I work at and the one prior.
Unless you work for the government, that's not the same - and even if you do, that's not what I'm really going for... What you're talking about is employer benefits, even if the employer is the gov't.
DBPP baby
Defined benefit pension plan. 75% of your last 3 years of pay averaged until you croak.
Actually I hate these types of systems, they allow employees to screw the employer/government.
The firefighters in Omaha have a plan like this - it's the last 6 years instead of three. So they just decide early when they plan to retire.. then they milk the damned clock for all they can possibly get, typically working 1.4 - 1.7 times normal driving their retirement numbers high.
Of course the city (or whomever is in charge of fire fighter schedules) is also to blame for this shit, because they should simply not allow those employees to have more than normal hours.
What's worse... Most Firefighters around here retire at 45-50 years old...
Anything that uses your last couple years makes you want to retire the moment you can bust ass, drive up the rate and check out. It's a terrible system. Maybe it should be on your lifetime total, not average. A person working six years gets as much as a person working fifty on those systems!
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@scottalanmiller said:
A person working six years gets as much as a person working fifty on those systems!
Yeah - OK I'm sure there are thing about required length of service, etc.
For example in the local major primary school district they have the retiring rule of 85, Years of service + age = you can retire at full benefits.
