Whose non-government relatives have pensions?

[Anonymous]

I know public-sector workers traditionally have had nice pensions, but I was amazed to learn that my mother-in-law, who worked as a local bank secretary in the '80s and '90s, has a pension.

At 59, I really feel like I missed out on something.

[Anonymous]

Yah, there was about one generation of corporate life where that was the norm. It's over now.

The only exception I know of is some of the better unions. Local IBEW (electrical workers) and carpenters I know have nice pensions, had nice careers, and generally a much better package than middle class office workers.

My son is joining IBEW.

[Anonymous]

Anonymous wrote:Yah, there was about one generation of corporate life where that was the norm. It's over now.

The only exception I know of is some of the better unions. Local IBEW (electrical workers) and carpenters I know have nice pensions, had nice careers, and generally a much better package than middle class office workers.

My son is joining IBEW.

Yep this is spot on.

There’s some exceptions like partners at Deloitte (and I’d guess the other Big 4?) get an annual pension and forced retirement starting at 62

[Anonymous]

My husband works at a utility company that offers pensions. He works in marketing, in the dc area, but is part of their company benefits nationwide. He hasn't been there long but if he stays it will be significant. Even if he leaves soon its still something.

Teachers obviously. My teacher friend in her 40s has about 10 more years until she can collect.

[Anonymous]

Me. I work at what used to be a retirement consulting / actuarial firm. I started in 1995 and am 56 years old.

[Anonymous]

My dad worked from IBM from 1965 to 1992 and receives a pension worth about $20,000 per year. They are no COLA's on the pension. He is 90 years old now.

[Anonymous]

My Japanese father. He was employed practically all his life at the one company, and part of his job was to start new branches around the world. He now collects different pensions from the UK, France, Germany and Japan, because apparently all the branches deal with pensions separately! It's an administrative hassle, but he dredges up the remnants of all these languages to deal with the necessary paperwork and occasional phone calls. I guess it keeps his brain young

[Anonymous]

My DC is a school teacher with Arlington Diocese (Catholic church.). The diocese has a 403(b) plan but does not do any matching. Instead they have a pension.

My DH worked for General Dynamics for about 10 years. He recently received a letter saying he could either cash out his pension or receive a monthly payment when he hits 60 years. It's not much at all since he only worked for them for 10 years and it was early in his career. I know they did a matching of his 401(k) when he was working for them.

[Anonymous]

Anonymous wrote:Yah, there was about one generation of corporate life where that was the norm. It's over now.

The only exception I know of is some of the better unions. Local IBEW (electrical workers) and carpenters I know have nice pensions, had nice careers, and generally a much better package than middle class office workers.

My son is joining IBEW.

Private equity is coming for those jobs. They pensions as unfound profits.

[Anonymous]

Anonymous wrote:I know public-sector workers traditionally have had nice pensions, but I was amazed to learn that my mother-in-law, who worked as a local bank secretary in the '80s and '90s, has a pension.

At 59, I really feel like I missed out on something.

PenFed has or had a pension.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yah, there was about one generation of corporate life where that was the norm. It's over now.

The only exception I know of is some of the better unions. Local IBEW (electrical workers) and carpenters I know have nice pensions, had nice careers, and generally a much better package than middle class office workers.

My son is joining IBEW.

Private equity is coming for those jobs. They pensions as unfound profits.

War, calamity, private equity is always on its grey horse. But some bets are still better than others. IBEW pension fund has some legal protections.

[Anonymous]

My sister retired from Disney at the end of Jan. She receives a pension. Her husband started at Disney as an hourly employee. He receives a pension for his service. He then moved to a salary role and also retired with my sister. He gets a second pension for his salary role. I don’t understand all the details but he’s getting 2 pensions from Disney.

[Anonymous]

My big law firm gives partners who retire with certain conditions met (time in service, age) 7 years of half salary.

[Anonymous]

My parents. Worked for the largest company in our town (manufacturing), but in white collar jobs. Mom mostly worked as a contractor so she could set her schedule, only worked as an employee long enough to vest, so her pension isn't large. Dad worked there basically from his 20s through his 50s and his pension is enough to cover all of their living expenses, they haven't even had to touch their 401ks and only recently started taking SS to lock in their benefits in case of reductions.

So they say "don't worry, you're doing fine on retirement savings, we weren't able to save that much at your age" and I'm like "...apparently you didn't need to at all, we are not in the same situation!"

[Anonymous]

My dad worked in the Registrars office at state university - his monthly pension is more than what I earn in a month (I am in my mid-50s).

I have friends who worked at the IMF/World Bank, they have pensions