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[quote=Anonymous][quote=Anonymous][quote=Anonymous]To 13:00:

You state that the FRB pension plan penalizes retirement before age 67.

Could you explain? I am at FRB and have never heard this. There is a large incentive to retire after 65 up to age 70 via an increasing multiplier, but I have not heard that retirement before 67 is penalized.[/quote]

ah, sorry, was working off memory. the congressional testimony indicated retirement before 65 or (age+ years-of-service=90) would result in a pension that is possibly 37.5% of the full pension, but again, I don't have access to the FRB current actuarial tables, or current retirement plan docs. for some reason the people i know at the FRB haven't spent the time to find it and send it all over to me. I'd also love to have more information about the Portable Cash Option, but... waaah. Anyway, I still haven't gotten a job offer from the FRB or CFPB so it's all academic for me.

https://www.federalreserve.gov/boarddocs/testimony/1999/19990225.htm#AttachmentB[/quote]

I see—the chart is quite out of date. Don’t know if I could replicate with updated information as the formulas get quite convoluted. The standard retirement age is 65. Then a multiplier kicks in that increases month by month until it hits 1.6 at age 70. I don’t know if any other Finreg has an inducement like this to stay on past 65.[/quote]

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