Quote:
Originally Posted by Nightengale212
Guess we both assumed wrong because the poster is not under either system as he worked for a city.
Just to clarify, my reference to the small number left of CSRS employees are those still working not retired. With the CSRS pension plan ending in 1987, those that came in on the tail end of that system have reached or will soon reach 30 years of service. My CSRS friends tell me that their pensions are calculated on 30 years of service, and any time worked beyond that does not have much financial impact on their pensions.
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If so, that is a change. before you worked until 41 yrs, 11 mos to get full benefit 80% of high three. I took a hit leaving at 30, but wanted to lock in before Congress tampers with it. Same like the plans to take away people's SS if they have any savings.
Under these cut backs, I will not get spouse benefit of my wife's SS, which would have given her more money. There is little value to work now. As you make money, your Government Pension is cut.
I wonder if the Private sector knows we pay close to half of our medical ins, all of our dental ins and all of our Long term care ins.
We made up for it with lower pay to professionals.