Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:There's a lot of feds in this thread who don't know how to calculate their pension.
https://www.fedweek.com/fers-csrs-calculator-get-a-ballpark-estimate-your-annuity/
Anybody who's under the FERS system and thinks they're getting $150k/year is in for a rude awakening. Maybe if you're maxed out at a finreg and have 50 years of service...
This calculator gives the exact same answer for my scenario: 154k. So what rude awakening are you talking about?
What are your inputs?
This is my previous post:
"If you work for a finreg, you highest salary will more than likely reach 400k in 15-20 years. If you have worked for 35 years at the time of retirement, you pension will be $400k*1.1%*35=$154k. For fed board, the multiplier is even higher."
Anonymous wrote:Anonymous wrote:Anonymous wrote:There's a lot of feds in this thread who don't know how to calculate their pension.
https://www.fedweek.com/fers-csrs-calculator-get-a-ballpark-estimate-your-annuity/
Anybody who's under the FERS system and thinks they're getting $150k/year is in for a rude awakening. Maybe if you're maxed out at a finreg and have 50 years of service...
This calculator gives the exact same answer for my scenario: 154k. So what rude awakening are you talking about?
What are your inputs?
Anonymous wrote:Anonymous wrote:There's a lot of feds in this thread who don't know how to calculate their pension.
https://www.fedweek.com/fers-csrs-calculator-get-a-ballpark-estimate-your-annuity/
Anybody who's under the FERS system and thinks they're getting $150k/year is in for a rude awakening. Maybe if you're maxed out at a finreg and have 50 years of service...
This calculator gives the exact same answer for my scenario: 154k. So what rude awakening are you talking about?
Anonymous wrote:There's a lot of feds in this thread who don't know how to calculate their pension.
https://www.fedweek.com/fers-csrs-calculator-get-a-ballpark-estimate-your-annuity/
Anybody who's under the FERS system and thinks they're getting $150k/year is in for a rude awakening. Maybe if you're maxed out at a finreg and have 50 years of service...
Anonymous wrote:Anonymous wrote:Where are all these six-figure pensions coming from? Even a maxed-out GS-15 who works for 40 years is only going to bring home about $75k.
Somebody said they'll have two pensions worth a combined $250k/year?! Even an LEO or air traffic controller will barely touch $100k after 40 years.
If you work for a finreg, you highest salary will more than likely reach 400k in 15-20 years. If you have worked for 35 years at the time of retirement, you pension will be $400k*1.1%*35=$154k. For fed board, the multiplier is even higher.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Where are all these six-figure pensions coming from? Even a maxed-out GS-15 who works for 40 years is only going to bring home about $75k.
Somebody said they'll have two pensions worth a combined $250k/year?! Even an LEO or air traffic controller will barely touch $100k after 40 years.
If you work for a finreg, you highest salary will more than likely reach 400k in 15-20 years. If you have worked for 35 years at the time of retirement, you pension will be $400k*1.1%*35=$154k. For fed board, the multiplier is even higher.
What finreg pays $400k/year?
From the FDIC website: The salary cap for CG positions, including locality pay, is $252,500. The salary cap for CM positions, including locality pay, is $275,000.
SEC caps out at $272,100 for all SK staff and just shy of $300k for senior officers.
Anonymous wrote:Anonymous wrote:Where are all these six-figure pensions coming from? Even a maxed-out GS-15 who works for 40 years is only going to bring home about $75k.
Somebody said they'll have two pensions worth a combined $250k/year?! Even an LEO or air traffic controller will barely touch $100k after 40 years.
If you work for a finreg, you highest salary will more than likely reach 400k in 15-20 years. If you have worked for 35 years at the time of retirement, you pension will be $400k*1.1%*35=$154k. For fed board, the multiplier is even higher.
Anonymous wrote:Where are all these six-figure pensions coming from? Even a maxed-out GS-15 who works for 40 years is only going to bring home about $75k.
Somebody said they'll have two pensions worth a combined $250k/year?! Even an LEO or air traffic controller will barely touch $100k after 40 years.