I've got about 8 more years and then I can do this. I have already had offers from several organizations who will "buy" me for my contact list. I'm not sure what your issue is.

Is it that I'm getting a pension? Or that I'm getting a pension after working for so long at less than I could have earned say....at BigLaw?

Or, are you just thinking you should have gone into gov't?

Nice work if you can get it. Why don't you focus on how you can get money and stop counting other peoples coins. You have a broke ass mentality, change or you will always be an overworked broke ass.

OP: MYOB!!!

Anonymous wrote:OP here. I think the 30% thing sucks! As I said, I support retirement for Feds, I just think it's not right that people then go on to a lucrative second career trading on their Federal contacts.

I would support a system where your Federal retirement decreases commensurate with outside earned income at a certain point.

I don't want my taxes going to retirement for lobbyists. But if someone wants to retire from a Fed job and be a teacher or something like that, I would 100% support it.

Funny I would love to be a teacher but I can't afford it. I would love if I could afford retirement and be a teacher - but I am the 30% poster.

The 80% retiree was hired with this agreement and she was smart. You are mad that she made a good deal. My brother got a good deal also because it was impossible to hire lawers in the 80's for the government - there was a program that gave them a similar retirement. He is set. But for years paid way less than he could have made otherwise.

It is the price you pay as a govt. employee - not fancy bonuses, trips, perks, etc.

Anonymous wrote:OP here. I think the 30% thing sucks! As I said, I support retirement for Feds, I just think it's not right that people then go on to a lucrative second career trading on their Federal contacts.

I would support a system where your Federal retirement decreases commensurate with outside earned income at a certain point.

I don't want my taxes going to retirement for lobbyists. But if someone wants to retire from a Fed job and be a teacher or something like that, I would 100% support it.

then people would start working under the table and be making even more money and not declaring it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That is the old plan - I will make 30% of my salary after 30 years in the govt. - Feel better now?

Is that how a pension works? I'm only familiar with 401(k)s where I contribute. How much do you contribute to your retirement to get 30% post retirement?

I also contribute to a 401K because 30% of my salary would not be enough to live.

I pay about $1000/year. What I really do for the pension is work for less than I could make in private industry.

It would be 10% if I worked 10 years, 20% for 20 years, 30% for 30 years (which is my plan), BTW.

I also don't buy the "less than in private industry" thing. This is someone with no college degree. She did a great job and I'm not denigrating that but I don't buy the idea that she could have goen out and made more in the private sector.

Anonymous wrote:

Anonymous wrote:That is the old plan - I will make 30% of my salary after 30 years in the govt. - Feel better now?

Is that how a pension works? I'm only familiar with 401(k)s where I contribute. How much do you contribute to your retirement to get 30% post retirement?

I also contribute to a 401K because 30% of my salary would not be enough to live.

I pay about $1000/year. What I really do for the pension is work for less than I could make in private industry.

It would be 10% if I worked 10 years, 20% for 20 years, 30% for 30 years (which is my plan), BTW.

OP here. I think the 30% thing sucks! As I said, I support retirement for Feds, I just think it's not right that people then go on to a lucrative second career trading on their Federal contacts.

I would support a system where your Federal retirement decreases commensurate with outside earned income at a certain point.

I don't want my taxes going to retirement for lobbyists. But if someone wants to retire from a Fed job and be a teacher or something like that, I would 100% support it.

Good for her! You would do it if you can. You could have followed the same career path but chose something else. As long as it is perfectly legal, more power to her.

I hear ya, OP. I had a previous boss who would brag about this ALL THE TIME. Except, he was even worse, b/c he was retired military, then worked in private, then worked in Fed, angling for that retirement. So, when I worked for him, he was back in the Fed (I was Schedule C and he was SES) just to get a few more years so that he could get that little bit. Ugh. That man drove me nuts (for more reasons than one!) PS He also was so old, that he could not keep up with the rest of us; we'd send emails - he would not check them; he had all sorts of old-fashioned arcane rules and made our dept. look ridiculous, but we could't do anything b/c he was our boss. It was just insane.

Anonymous wrote:That is the old plan - I will make 30% of my salary after 30 years in the govt. - Feel better now?

Is that how a pension works? I'm only familiar with 401(k)s where I contribute. How much do you contribute to your retirement to get 30% post retirement?

That is the old plan - I will make 30% of my salary after 30 years in the govt. - Feel better now?

I know because she told me. Late fifties.

How do you know that was her salary? How old is she?

I'm irritated by the fact that my neighbor made over $150K at her Fed job, retired, and now collects 80% of that while pulling in several hundred thousand more as a lobbyist.

I fully support retirement for federal employees but I think this double dipping is unconscionable, particularly as she's drawing on her contacts for profit.

Whew, I feel better!