Whose non-government relatives have pensions?

[Anonymous]

Spouse is at Deloitte (certainly not an equity partner!) and has had a modest pension fund since day 1. The main retirement is absolutely the 401k, but we expect the pension to be bonus fun money in retirement.

I’m public sector so mine is reversed. Pension is the man retirement, 403b is the bonus fun money.

[Anonymous]

My mom does. She worked in a hospital.

[Anonymous]

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

This is why taxes in long island are insane.

[Anonymous]

Anonymous wrote:Spouse is at Deloitte (certainly not an equity partner!) and has had a modest pension fund since day 1. The main retirement is absolutely the 401k, but we expect the pension to be bonus fun money in retirement.

I’m public sector so mine is reversed. Pension is the man retirement, 403b is the bonus fun money.

FYI if your spouse ever leaves Deloitte and are vested in the pension you can request a lump sum and invest that yourself in an index fund. Usually the smarter idea. I got $30K for 5 years of service (pension value was $400 / month), put in in VOO, and it’s worth over $100K now.

[Anonymous]

My father died while still working in his late 40’s. My mother has been receiving his pension since then, about 40 years. She also got 100% paid health benefits until she turned 65 and now receives 100% Medicare supplement and drug coverage.
It wasn’t a Union job.

[Anonymous]

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

That’s a huge pension for a teacher.

[Anonymous]

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

Is that gross or net?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

That’s a huge pension for a teacher.

Not on Long Island. The newer pensions are not as good. But 200k -$300k for principals and up pensions pretty common. And 10k a month is not unusual. Look at see through ny website shocking teacher salaries on Long Island.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

That’s a huge pension for a teacher.

On Long Island these are two highest public school pensions. It is why taxes are high

Hankin, Carole Syosset Central Schools $322,510
, James H Commack Union Free Schools $321,000

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

That’s a huge pension for a teacher.

On Long Island these are two highest public school pensions. It is why taxes are high

Hankin, Carole Syosset Central Schools $322,510
, James H Commack Union Free Schools $321,000

The President’s pension is about $250,000 per year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

That’s a huge pension for a teacher.

On Long Island these are two highest public school pensions. It is why taxes are high

Hankin, Carole Syosset Central Schools $322,510
, James H Commack Union Free Schools $321,000

Those are superintendents of school districts.

[Anonymous]

Many members of my DH's family have pensions from working at steel mills, oil refineries, and as iron workers, welders, and concrete layers.

[Anonymous]

My 19 year old is a paraprofessional in NYC and pays into a pension. The company my husband works for there drivers are union and have pensions amongst many other large company route drivers.

[Anonymous]

I work for a credit union, and about 10 years ago they gave employees the option to keep pension contributions or switch to 401K. I was just starting at the time so didn’t have that option.

[Anonymous]

Well, I am a retired Federal employee who has no pension…so I feel your pain.

(Before others tell me this is not possible, you are wrong.)