Survivor benefits is the default. If you don’t want survivor benefits then you have to elect it and spouse agree to it. Yes spouse can only inherit pension which is why I said spouse. |
Yes. STEM professional. I was offered double. Turned it down because I believe I have more impact where I am at. My DH left govt, made 1.5x when he left and 5 yrs later makes 3x more than he did. |
What are you talking about? TSP is like a 401K, employees contribute to it. It’s not a pension, it’s just like what large private employers provide and often less generous. If you can go to a private company with a pay boost, you’ll also get the 401K and come out ahead. Did you even do any math? Yes, healthcare for life that they pay a portion of. Not free. Plenty of private sector workers retire before 65 also, in case you hadn’t noticed. |
Another delusional post. There are far more people covered by private sector defined benefit plans than Feds with FERS. Yes, most companies got rid of them, but lots did not, and the private sector has far more employees . |
For new hires? I would need a cite for that before I could believe it. |
+1 Yes, the best thing about fed employment besides job security is that you can be at every school performance, parent-teacher conference, etc. Work-life balance is awesome. The pension is not good. |
Just , to name some of them, the following fortune 500 offers a pension to their employees: Berkshire Hathaway PepsiCo MMM Southern Company ExxonMobil BB&T NuStar Pacific Gas & Company Coca-Cola Nextera Energy https://finance.yahoo.com/news/15-biggest-companies-offer-pensions-143402543.html |
Probably around 5% in the private sector |
More than likely, you had a good deal that worked with your work life balance and leaving would have upended that. Also helps DH makes a good salary and money isn’t a motivating factor for you. Otherwise, you’d be silly not to leave to double your salary. |
DP. Yes, I’ve read that the private sector has about 7% defined benefit plans, and with 135M employees this is something like 9 or 10 million people. The federal civilian employees with the FERS defined benefit plan is a number below 2 million. |
What was stopping jealous folks from working for federal government? Its a shame people want government workers to work for free and retire with nothing. |
Our combined pensions will be 200k. How is that not good? |
Plus we will eventually get social security and have retirement savings |
That's very high for most feds. Will you but have 40 years? |
Yes for the average fed this is next to impossible. A FERS pension of 100k for most feds would require starting at 22, working 40 years and retiring with an average high 3 salary over 225k (when a GS 15 caps out at 190k right now) Of course there are other retirement systems for certain feds that would make it more possible |