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Brown Cafe UPS Forum
UPS Retirement Topics
Management Pension Plan COLA adjustment?
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<blockquote data-quote="Brownwifey" data-source="post: 1239735" data-attributes="member: 51329"><p>bummer! I must have been dreaming. </p><p></p><p>At any rate, I've got some advice for folks who are 5-10 yrs from retiring and playing with the retirement calculator online. Make sure you know if your pension estimate is in current or future dollars. </p><p></p><p>If you ask HR to calculate your projected pension at your selected retirement age, make sure you understand whether you are looking at "current dollars" or "future dollars". In my husband's case, they sent us a printout that based his pension estimate on the five consecutive highest annual compensation amts <strong>without accounting for future raises</strong>, i.e. the pension amount was in "current dollars". If you're ten years out, this could make your pension calculation off by 25-30%. Hopefully, we're much closer to retiring than that. </p><p></p><p>Bummer on no COLA. This really reduces the value of a pension if you plan on living to be old as dirt... <img src="/community/styles/default/xenforo/smilies/smile.png" class="smilie" loading="lazy" alt=":)" title="Smile :)" data-shortname=":)" /> Thank god for the 401k.</p></blockquote><p></p>
[QUOTE="Brownwifey, post: 1239735, member: 51329"] bummer! I must have been dreaming. At any rate, I've got some advice for folks who are 5-10 yrs from retiring and playing with the retirement calculator online. Make sure you know if your pension estimate is in current or future dollars. If you ask HR to calculate your projected pension at your selected retirement age, make sure you understand whether you are looking at "current dollars" or "future dollars". In my husband's case, they sent us a printout that based his pension estimate on the five consecutive highest annual compensation amts [B]without accounting for future raises[/B], i.e. the pension amount was in "current dollars". If you're ten years out, this could make your pension calculation off by 25-30%. Hopefully, we're much closer to retiring than that. Bummer on no COLA. This really reduces the value of a pension if you plan on living to be old as dirt... :) Thank god for the 401k. [/QUOTE]
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Management Pension Plan COLA adjustment?
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