Reply to Is a pension all it’s cracked up to be?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I worked in a pension department and most people were getting $1600-$3600/month depending on years of service, marital status and salary and age etc. most of them falling in the $22-2600/mo range. Add social security and you won’t starve especially if you have your house paid off.

Pensions are guaranteed by pbgc.gov but there was a time when pensions were failing and a bunch of companies did away with them [/quote]

Public sector pensions are not guaranteed by PBGC. If the salary difference is that big, you can save more for retirement and convert some of it to an annuity when you retire if you want a guaranteed stream of income. That would put you ahead of your public sector pension, assuming it does actually open up to you, which is far from a given. [/quote]

When you say public sector here do you mean state gov, military, post office, teachers, police/fire or federal gov? Or churches (do they pay pension?)? Not sure what Op means either. Are public sector pensions funded by tax dollars? [/quote]

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