Anonymous wrote:I wonder how long we will have pensions in this country. This current government hates, I mean absolutely hates pensions. I don't have a pension as I am in the private sector. But I am so glad some people still have them in the private sector.

Instead of applauding that some folks still have pensions, some of us in the private sector are so knee deep in our hatred and jealousy that we become haters.

The biggest critics of pensions are private sector workers who don't have them. If you want one, join the public sector.

When I was looking for public sector jobs out of grad school, pensions were not that appealing because they aren't portable and the benefits for new employees have been reduced. I work in public sector now but I wasn't eligible for a pension, they offered a hybrid 401k style plan instead that gave me a guaranteed interest rate. And a large match..I realize the benefit is small compared with my colleagues who do have pensions, but I appreciate that I can leave my job and take my money with me. I think this approach is more financially sustainable and more suited to today's environment where people don't plan to stay with an employer forever.

I wonder how long we will have pensions in this country. This current government hates, I mean absolutely hates pensions. I don't have a pension as I am in the private sector. But I am so glad some people still have them in the private sector.

Instead of applauding that some folks still have pensions, some of us in the private sector are so knee deep in our hatred and jealousy that we become haters.

The biggest critics of pensions are private sector workers who don't have them. If you want one, join the public sector.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My sister-in-law is an elementary school teacher on Long Island. She makes >$150k/year (25+ years experience) and her pension will pay her 80% of her salary when she retires.

Good for her, but that’s not really a non-government position is it?

Very, very local government, as school districts are town/township entities.

In NY they are paid through the state pension system.

I was at a large government contractor that offered one. Unfortunately, I was laid off before I reached the years of service requirement. Kind of stank because I wasn't putting much into 403b while I worked there. Though felt awful for people who were laid off much closer to the years of service requirement.

I have one from a Mining company.

Anonymous wrote:My dad worked in the Registrars office at state university - his monthly pension is more than what I earn in a month (I am in my mid-50s).

I have friends who worked at the IMF/World Bank, they have pensions

+1
Yes. And they are fat pensions too.

My ex wife has a generous pension from the UN in NY

Worked at three pharma companies, all with pension plans.

Anonymous wrote:

Anonymous wrote:My sister-in-law is an elementary school teacher on Long Island. She makes >$150k/year (25+ years experience) and her pension will pay her 80% of her salary when she retires.

Good for her, but that’s not really a non-government position is it?

Very, very local government, as school districts are town/township entities.

One of my parents: Northrop Grumman.

Anonymous wrote:My sister-in-law is an elementary school teacher on Long Island. She makes >$150k/year (25+ years experience) and her pension will pay her 80% of her salary when she retires.

Good for her, but that’s not really a non-government position is it?

My sister-in-law is an elementary school teacher on Long Island. She makes >$150k/year (25+ years experience) and her pension will pay her 80% of her salary when she retires.

Anonymous wrote:

Anonymous wrote:My mother was a school teacher in a tiny district on Long Island. She gets about $8k/month, plus social security, plus they reimburse for all the Medicare supplements. Thankfully she gets all of this as she’s now in memory care

Getting that much, with no (?) reduction in SS strikes me as excessive.

Why do you say excessive. I work as a SES equivalent at a financial regulatory agency and at 59 I will have a federal pension of $10,300 per month (128k per year). I started in government at 21 and I am highly compensated. My spouse is retired GS 15/10- 7k per month.

My mom worked for Kaiser Permanente doing HIV education for something like 7 years and has a monthly $600 pension.

I have a pension from Accenture.