Comments on: Retiring With A Pension: RISKS You Need To Plan For!

By: @DWilliam1

@DWilliam1 — Tue, 25 Jun 2024 12:04:57 +0000

Retiring next year at 59 with a large teachers pension that will be $8K a month with a partial COLA(1/2 inflation) and will be leaving the wife 50% if I go first. It will allow me to retire before 62 without having to touch my 403b and 401K…unless I want to. I’ll most likely be taking SS early($2700)which will be a nice boost for inflation. The pension is backed by the NYS constitution. Own my retirement place outright. Can’t wait.

By: @July.4.1776

@July.4.1776 — Tue, 25 Jun 2024 11:58:48 +0000

In reply to @don3667. Yes! Congress has funded the PBGC with a large infusion. It is now fully funded.

By: @July.4.1776

@July.4.1776 — Tue, 25 Jun 2024 11:53:04 +0000

Eric you are using an article from 2012 the PBGC has been funded by congress recently.

By: @GusMahn

@GusMahn — Tue, 25 Jun 2024 01:54:29 +0000

At what point is delaying taking it for a larger payment worth it? Ex I retire at 58.5 and take my monthly pension at 59 and get about $1830/mo or $297K lump. If I retire at 58.5 and take the pension at 65 and get about $2750/mo, or $398K lump. I shouldn’t need the money right away, but like everyone I want the best use of the benefit.

By: @tedjohnson4451

@tedjohnson4451 — Tue, 25 Jun 2024 00:36:21 +0000

Retiring in 26 Work/ +21 Vacation/ 67 Calendar Days with a 70% Pension at Age 62. Social Security is Coordinated with my CalPers. I’ll deplete my 403b before I file for Social Security… Possible as late as 2027 when I file for Medicare. I’ll also have my Roth for Future Needs. The CalPers Statutory COLA is 2% starting in the Second Calendar Year, Adjusting in May… With an 80% Purchasing Power Guarantee. Disclaimer: I am my Union Local’s Retirement Guru.

By: @p.h.1576

@p.h.1576 — Mon, 24 Jun 2024 23:55:56 +0000

Hey, where is Dustin? Where is the closing beat?

By: @p.h.1576

@p.h.1576 — Mon, 24 Jun 2024 23:55:41 +0000

In reply to @ehderguyyashootadeerorno2313. I agree. I miss it greatly. What is going on? Where is Dustin?

By: @brucesmith6868

@brucesmith6868 — Mon, 24 Jun 2024 23:37:20 +0000

Thanks Eric great info.

By: @marleybeem6537

@marleybeem6537 — Mon, 24 Jun 2024 22:23:58 +0000

Private equity investments are creeping into public sector pensions. From what I can gather, these are risky and should not be in pensions.

By: @ld5714

@ld5714 — Mon, 24 Jun 2024 22:09:21 +0000

Good discussion. I’ve been retired for 13 years. My pension (non-government) does not have a COLA benift. Between our SS and pension it covers virtually all of our expenses, and we have very ample retirement savings also. It has 75% survivor benefit. I’m currently using my RMDs for gifting within the family. It makes little sense to me to have them wait for us to die to get their inheritance; I’d rather give them funds when they need and can be more effective, so it will make more of a difference than it will later down the line for them.