Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I retired at age 58 with a Fed pension.

Probably should mention that I was replaced with a part time worker at a much lower grade.

Not much to brag about then... just another Fed ripping off taxpayers. Getting full time salary while only working part time.

Seriously? Have they no sense of pride?

We can only hope. Good riddance. But don't count on the greediest generation to retire until they set it up so they've taken everything they possibly can from the system. Oh wait, they've already done that. But they still won't leave.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I retired at age 58 with a Fed pension.

Probably should mention that I was replaced with a part time worker at a much lower grade.

Not much to brag about then... just another Fed ripping off taxpayers. Getting full time salary while only working part time.

I think you're rather confused about what a pension is. Are you jealous that your 401k is rises and sinks with a market overwhelmed by speculators and some Wall Street fatcat periodically takes a percentage of your hard-earned retirement money for basically doing nothing? Maybe that's the ripoff you should be upset about.

Face it, your guaranteed fixed income pension which you paid in peanuts yet receive a $1m annuity, or more if you live longer, is unsustainable. That's why they've been fazed out at corporates and fed jobs (which have offer 401ks for 10+ yrs..)..

Enjoy your good timing and favorable politics!

Yes. Not to say that there will be a whole heck of lot of upward mobility for people coming after--companies will downgrade those positions--but of course they are retiring. Contrary to what the life begins at 60 crowd, people slow down and want to stop working, and frankly, the average age of death in this country is still in the mid-70s. People get sick even earlier and are forced to quit working. Let's not forget--this is the biggest voting block in the country, and as far as having investments wiped out, no worries--they will just vote themselves more generous benefits.

The book "The Next 100 years" talks about this demographic crunch. The boomers will be retiring in waves, but still consuming. By 2020, everyone who wants a job will have one, at high wages, but those wages will be heavily burdened by both taxes and inflation. And of course, not every industry will be a winner in this, so you must be nimble.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I retired at age 58 with a Fed pension.

Probably should mention that I was replaced with a part time worker at a much lower grade.

Not much to brag about then... just another Fed ripping off taxpayers. Getting full time salary while only working part time.

I think you're rather confused about what a pension is. Are you jealous that your 401k is rises and sinks with a market overwhelmed by speculators and some Wall Street fatcat periodically takes a percentage of your hard-earned retirement money for basically doing nothing? Maybe that's the ripoff you should be upset about.

Anonymous wrote:I retired at age 58 with a Fed pension.

Yep, the final generation of unsustainable govt defined benefit plans backstopped by taxpayers can and will retire soon. No reason not to. And if they double dip as consultants, they def won't hold back.

Rehires will be lateral, as this what club fed does.

Huge numbers of federal employees are retiring already. OPM is having a hard time processing.

Anonymous wrote:

Anonymous wrote:I retired at age 58 with a Fed pension.

Probably should mention that I was replaced with a part time worker at a much lower grade.

Not much to brag about then... just another Fed ripping off taxpayers. Getting full time salary while only working part time.

Anonymous wrote:I retired at age 58 with a Fed pension.

Probably should mention that I was replaced with a part time worker at a much lower grade.

Anonymous wrote:I retired at age 58 with a Fed pension.

+1

I retired at age 58 with a Fed pension.

Doubtful. All their savings were wiped out and many can't afford to retire.

I think it depends on the field. Perhaps like you, I have lived my life in the shadow of the baby boomers ahead of me. The have defined culture, norms and work by their huge numbers.

If we always lived in 'normal', average times the boomers would be retiring in big numbers. And they are! Many are sticking around in one way or another, clogging up the career paths of younger workers. Certainly in DC and, to a somewhat less degree elsewhere, older workers can be productive and even preferred to younger workers (we aren't running a steel mill here). A 65 year old with numerous connections and lots of experience may be perfect for a lot of situations.

The Social Security Administration states that more than half of retirees get more than half their income from Social Security.

So there you have it; they don't have to retire and a lot of them don't feel like they can afford to retire. They aren't going anywhere soon.

Hmmmm. We just retired at age 56 (former frderal govt employee with monthly annuity). We are now contractors living on beach in FL, loving life. We work as consultants, as needed and when we want to work. Medical is paid and 401k is fat and does not need to be touched.
We plan on living a long time....God willing!

...and with that, a flood of new job openings?

The only thing I'm concerned about is those positions will probably be downgraded with lower salaries (ie., that Sr. Director position is now just a Director, etc.)