Feds... do you plan on staying forever?

[Anonymous]

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

you then multiply it times your years in service. 150k x .01 x30= 45k

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

You get 1% per year of service.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

you then multiply it times your years in service. 150k x .01 x30= 45k

This is for those retiring now under FERs. There is no guarantee that you will get this in 30 years. Govt giveth and can taketh away. Depdending on political environment when you are 62.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

you then multiply it times your years in service. 150k x .01 x30= 45k

This is for those retiring now under FERs. There is no guarantee that you will get this in 30 years. Govt giveth and can taketh away. Depdending on political environment when you are 62.

Changes made are for new employees, not current employees. Changes to FERS have already been made.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

you then multiply it times your years in service. 150k x .01 x30= 45k

This is for those retiring now under FERs. There is no guarantee that you will get this in 30 years. Govt giveth and can taketh away. Depdending on political environment when you are 62.

Changes made are for new employees, not current employees. Changes to FERS have already been made.

Well hopefully that is true that they will never touch current employees. I would not 100% count on it though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow! The gov't pension is extremely high, right? Assuming things stay the same, if I make an average of $150k in my high three years, and even if I retire before 62 so I get 1% and not 1.1%, I will get $45k a year! WOW!

I hope you have financial advisor... 1% of 150 is not 45.

you then multiply it times your years in service. 150k x .01 x30= 45k

This is for those retiring now under FERs. There is no guarantee that you will get this in 30 years. Govt giveth and can taketh away. Depdending on political environment when you are 62.

Changes made are for new employees, not current employees. Changes to FERS have already been made.

Well hopefully that is true that they will never touch current employees. I would not 100% count on it though.

When the federal government becomes insolvent and declares bankruptcy and/or rewrites existing pension plans, I think we'll all have much more to worry about than FERS.

[Anonymous]

Anonymous wrote:* * * or rewrites existing pension plans, I think we'll all have much more to worry about than FERS.

I get to work on the details of rewriting existing pension plans (sse, e.g., http://www.morganlewis.com/pubs/LEPG-EB_LF_ObamaSignsMultiemployerPensionReformAct_18dec14?source=homepg) in the course of my lousy 60-hour/week GS 15 job working for Administration hacks.