Originally Posted By: Rock_Hudstone
Originally Posted By: Shannow
Seems to be another regionality disconnect going on here, with retirement being possible around 50.
Where is the retirement income stream coming from, to last so long ?
Unionized government employees get lifetime pensions often with full health care thrown in, terms and benefits vary and there have be some attempts at reform. Cops, firemen and teachers typically have the most generous packages.
The income stream is mainly coming from the tax payers as the employee contributions fall far short of the benefits paid out. Thus, there are unfunded liabilites to the tune of trillions of dollars, although some state pension funds are in better shape than others.
Starting pay for Corrections Officers around here is pretty dreadful, single digits per hour! The benefits are the big deal, and rightfully so. I don't begrudge anyone who puts up with society's worst, and who puts in their required time to get their pension... thinking ahead for the long haul. Similarly, the "health insurance/ benefit breadwinner" is as important to the family as the mortgage payer; in my household it's a bigger chunk of money every month. Working for the state nicely compliments a spouse who's got a business startup idea, for example.
Congrats, OP, for getting out while the getting's good.