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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Don't assume Feds get pensions. I have worked for the government for 24 years, and only get a 401K contribution--no pension.

They started phasing out that benefit years ago.[/quote]

It was phased out many years ago.  Older generations got great pensions but newer ones don't.[/quote]

Meh. CSR was more generous.  But, I’ve been in for eleven years and am under FERS. 1 plan to work until 63 and get about 1.1% of my high 3 salary per year.  I have, 11 years, that’s 12.1% of 120,000 vested, or about $15,000 year.   I’m up for a promotion and planning to be in for 30 years/ until age 63. If so, my pension will be about $40k a year in today’s dollars.  Plus approx $26000 a year  in SS, plus approx $24,000 a year out of TSP.  That’s $86,000/year tax free.  Almost half from FERS.  Plus medical. Plus my spouse’s income.

And I’ve been in long enough to be under the old FERS formula (contribute less than 1%).

Federal pension is a good deal if you can get it. And if the tea party doesn’t shut it down. [/quote]

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