I wonder if one reason the boomers are in such a good place financially is that they didn't waste time at work on the internet.

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

This is the reason our economy is collapsing!! Our economy cannot afford to pay the wildly over-the-top benefits that have been promised for decades to the baby boomers. Wake up post baby boomer generations: we're the ones holding the bag for the boomers who've looted the country.

I do expect productivity to increase

they should adjust the minimum retirement age with life expectancy make the minimum retirement age 68

By far, people over 45 have the most money.

Retiring at age 60 if all goes well. So far, those younger employees are not working out as well as having seniors do it for less pay, or working part time.

I've been hearing that some ridiculous percentage of the federal work force is eligible to retire in the next 5 years for the 13 years I've been working for the federal government. Hasn't happened. Eligible to retire doesn't mean they can afford to or want to.

Even when people do retire, my agency is on a 3:1 replacement hiring scheme right now due to budget cuts and expected furloughs. So a wave of retirements doesn't mean a corresponding wave of new hires.

Anonymous wrote:Slightly OT, but is anyone else having to deal with dementia in the workplace with some of the older workers? There's only so much reasonable accommodation we can provide (and trust me, this has been vetted extensively through our lawyers), but some of them are just going to have to be termed.

Several gaga Fed judges in my building . Very difficult to ease them out.

Anonymous wrote: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.

Awesome!

The 401k experiment has failed. It's a bad system, with bad returns and many boomers will be forced to work and keep their jobs.

There has been a large increase in productivity over the past 30 years. Where you use to have 5-6 people doing a middle management job, you have one person with a laptop and a few programs. The feds have had production gains, but have not caught up to the private sector. This and the smaller government thing, will reduce the number of middle to upper level jobs in the coming years.

The problem we have in my office (with over 70% eligible for retirement) is that they're all on CSRS and have no want to retire yet.

I'm hoping there are a lot of retirements in this area. I want their jobs and I want their houses. I heard that boomers own 70% of the houses or so and are only 30% of the population.

I cashed out my pension and rolled it into an IRA when I left my corporate job some time ago.

Anonymous wrote:

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!

That's the bum deal of being in the shadow of the boomers. Many of them got these sweet retirement deals that cannot possibly be sustained in the long run. Other than feds, most people I know are expecting their retirements to be poorer than their parents' golden years.

Slightly OT, but is anyone else having to deal with dementia in the workplace with some of the older workers? There's only so much reasonable accommodation we can provide (and trust me, this has been vetted extensively through our lawyers), but some of them are just going to have to be termed.