Reply to Valuation of Pension for Retirement Planning

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Folks want to include the pensions in their net worth because it makes them feel richer and more able to keep up with the Joneses. It’s kind of pathetic.[/quote]

Is it because you might be jealous of my inflation adjusted $140k annual pension with lifetime benefits?. I retired fours years ago at age 53.  Do I count as part of NW? No I dont but my financial planner recently advised its “worth” about $3.5m ($140x25).  Loser [/quote]

When you croak your heirs get nothing so it’s not an asset.  [/quote]

Generally there are survivor benefits, typically for the spouse. My plan allows me to designate a non-spouse, so I am designating my child. [/quote]

Your child does not get your pension for the rest of their life.  No way. [/quote]

One would think so but yes, child gets survivor benefits until they pass away.  You can designate anyone and generally the younger they are, the less percentage they will receive [/quote]

It's all actuarial. Under my pension plan you can designate a choice of the percentage of your pension the survivor will receive, but not less than 50% of your pension. Choosing the survivor benefit lowers the amount of pension you can collect. The amount of the reduction depends on the age of the survivor; the younger they are, the greater the reduction as actuarially determined.

And, yes, the survivor is paid the pension for life.[/quote]

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