part time years toward full time retirement

Mr.ODD

Well-Known Member
i worked part time for 15 years before going driving, been driving for 6 years. does anyone know how part time contributes towards full time retirement? i heard that each part time years counts as half towards full retirement but that it doesn't factor in until after full time years completed does anyone know?
 

oldngray

nowhere special
Credit maybe but no monetary gain on FT retirement plan.
Where it would make a difference would be if your plan had something like 30 years and out at any age. 15 part time years plus 15 full time years would qualify. But you would still draw 2 separate pensions with the FT only being with 15 years of credit.
 

PT Car Washer

Well-Known Member
Where it would make a difference would be if your plan had something like 30 years and out at any age. 15 part time years plus 15 full time years would qualify. But you would still draw 2 separate pensions with the FT only being with 15 years of credit.
And a 6% reduction for every year you are under 65.
 

opie

Well-Known Member
PTers here in NJ are under the UPS plan. Only FTers are in a Union pension plan. So its seperate, and I for example would get two pension payments. Though our healthcare benefits are the same. You would have to check your supplement to see what the pension details are.
 
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quad decade guy

Well-Known Member
Different plans but part time years still count towards retirement credit.
Not here. PT and FT completely separate.

15 years PT then 15 FT would get you a whole lot less. And would only be able to draw much later than 30FT and out(any age). Here, there is a penalty for being less than age 57 for 25 and out but not 30 and out.....that penalty is $500 a month....ouch. I've known several hothead folks that took 25 and out because they just couldn't cope....paying that penalty for the rest of their lives......

Starting at age 18 and working 15 years PT......makes you 33....then 30 years FT you'd only be 63.

Could be done.
 
PTers here in NJ are under the UPS plan. Only FTers are in a Union pension plan. So its seperate, and I for example would get two pension payments. Though our healthcare benefits are the same. You would have to check your supplement to see what the pension details are.
It's the same way here also
 

burrheadd

KING Of GIFS
Not here. PT and FT completely separate.

15 years PT then 15 FT would get you a whole lot less. And would only be able to draw much later than 30FT and out(any age). Here, there is a penalty for being less than age 57 for 25 and out but not 30 and out.....that penalty is $500 a month....ouch. I've known several hothead folks that took 25 and out because they just couldn't cope....paying that penalty for the rest of their lives......

Starting at age 18 and working 15 years PT......makes you 33....then 30 years FT you'd only be 63.

Could be done.
Not sure you’re the greatest person to be giving retirement advice
 

quad decade guy

Well-Known Member
Not sure you’re the greatest person to be giving retirement advice
Oh?

Since you don't know me....how would you know....exactly?

I've had/have a long and lucrative career. My retirement has been set/established for a long time and getting better through $100k (annually) reinforcement.....while living a lifestyle you could only dream about with jealousy/envy....
 
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