Do you get or will you get a pension?
- Thread starter ZZman
- Start date
. Wife has a small one from previous employer which will also be small.
My older sis is an assistant principal at a public school. She's in an administrators union while the teachers are in a different union.
Ohio requires teachers get 15 paid sick days a year. She has accumulated over a year of sick time and will cash it out open retiring. So that is a cash bonus when she retires paid for by the tax payers.
Ohio requires teachers get 15 paid sick days a year. She has accumulated over a year of sick time and will cash it out open retiring. So that is a cash bonus when she retires paid for by the tax payers.
my pension will be Social Security
My deceased wife was a lifelong employee of the State of New Jersey. I am receiving a survivor's pension benefit from the New Jersey Pension Plan.
slo town
$200 Site Donor 2026
No pension for me.
Scott
Scott
People cashing out huge reserves of PTO, inflating their last year of work pay, which then feeds into their public pension payout calculation, is a real thing in some locals. As I recall, California, where I live, for example. Instead of someone drawing a pension based off say $150k/year, the calculation is off $200k. Just making up these numbers, but hope you get the point.
Yes. Been in it for 22 years now and will probably go to 30 or more (depending on insurance/healthcare).
I believe at the end I will draw ~ 65% (possibly more) of my final number, which is a lot when there are way less deductions
I believe at the end I will draw ~ 65% (possibly more) of my final number, which is a lot when there are way less deductions
(Checks avatar) - Yes.
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I get a small pension from a buyout dealie and only after 1.5 years at the company (ended up over 15+ years). $427/mo hahahaha
Wife worked for the state as a para-educator and indirectly for UW Medical center. She gets two pensions, total about $425/mo
So funny they are totally unrelated and so close in $
I racked up near $2.5 million in my 401Ks - now two IRAs
Wife I think around $700K IRA
Glad they moved RMD out a bit
Interest from unrelated taxable accounts is around $4000-$5000 month. This money came from savings, business sale, house sales, etc
I get over $3000 SS / mo
Wife gets over $2000 SS / mo
Amsoil is $1500-$3000/mo
I have worked hard and am not white privileged or lucky. In fact I could have been better with our money if truth be told. My parents were tract home poor, but my dad busted his ass, saved and reached millionaire first.
Wife worked for the state as a para-educator and indirectly for UW Medical center. She gets two pensions, total about $425/mo
So funny they are totally unrelated and so close in $
I racked up near $2.5 million in my 401Ks - now two IRAs
Wife I think around $700K IRA
Glad they moved RMD out a bit
Interest from unrelated taxable accounts is around $4000-$5000 month. This money came from savings, business sale, house sales, etc
I get over $3000 SS / mo
Wife gets over $2000 SS / mo
Amsoil is $1500-$3000/mo
I have worked hard and am not white privileged or lucky. In fact I could have been better with our money if truth be told. My parents were tract home poor, but my dad busted his ass, saved and reached millionaire first.
My aviation career ended with me walking out with zero notice, the above is reason #1. No pension, no 401K, no retirement benefits what so ever.
I’ll get two small pensions. The first from a .gov job I had when I was younger. My income was low, so I think this will provide about $800/mo in the late 2040’s when I’m able to pull from it. That’s about $400-$500/mo in today’s dollars. Then they’ll tax it, and I’ll probably be able to buy a medium one topping pizza in 2045 dollars.
The other pension is from my current job which they recently discontinued and now give us an additional 3% match on our 401k, which I’m 100% ok with. I only contributed for a couple of years (with a salary about 6x what I was making at my .gov job). So, I think this one will also be worth a couple hundred/mo. The good news is that I’ll be able to grab a couple drinks to go along with that monthly medium one topping.
Life is good.
The other pension is from my current job which they recently discontinued and now give us an additional 3% match on our 401k, which I’m 100% ok with. I only contributed for a couple of years (with a salary about 6x what I was making at my .gov job). So, I think this one will also be worth a couple hundred/mo. The good news is that I’ll be able to grab a couple drinks to go along with that monthly medium one topping.
Life is good.
No pension here, I manged to retire w/o one.
Yes, I put up with a lot of crap for 30 years in the private sector because my employer offered a pension. I could take the pension early (reduced about 3% per year from maximum) and I chose to do that at 58 with 100% survivors benefits for my wife. The monthly benefit with the 100% survivors benefits continuation is also reduced about $750/month vs me getting it alone, worth it in my situation.
With zero expenses on the first of every month and no mortgage for the last 25 years I could easily take the pension “hit” and have done so. I’m not taking SS until 70 and neither have I tapped into my considerable 401K account. I fully funded, maxed out the contributions limit, the 401K from day 1 when it was offered which was the smartest financial move I ever made. That and not buying that 34’ boat!
My wife has a teachers aid job with Disabled kids that pays about $22k per year and that has a pension worth about $850/mo which might start next year. I am not looking forward to minimum distributions from the 401K since projections show it will increase my income ~4x from what it is now.
With zero expenses on the first of every month and no mortgage for the last 25 years I could easily take the pension “hit” and have done so. I’m not taking SS until 70 and neither have I tapped into my considerable 401K account. I fully funded, maxed out the contributions limit, the 401K from day 1 when it was offered which was the smartest financial move I ever made. That and not buying that 34’ boat!
My wife has a teachers aid job with Disabled kids that pays about $22k per year and that has a pension worth about $850/mo which might start next year. I am not looking forward to minimum distributions from the 401K since projections show it will increase my income ~4x from what it is now.
Just a 403B for me, but I have been fortunate that my employer contributes 2x my 5% contribution. 15% plus some supplemental saving over 48 years adds up. Add that my career is one of passion and personal fulfillment and I feel blessed.
My brother got a pension from Ford for 29 years on the assembly line. My sister was with Verizon for decades. They had a pension when she started but eradicated it before she was gone, so she got a partial pension which she used to pay off her house. I've never worked somewhere that offered one.
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Yep…wife and I actually get two each plus SS
Teamster’s/UPS pension continues on after I’m dead and gone for the wife
