Pensions
- Thread starter NC man
- Start date
rod
Retired 22 years
may I have another?
Cactus
Just telling it like it is
Exactly.
If there’s anything advantageous for hourly employees, Smith by his predatory nature will destroy it. Guaranteed.
MassWineGuy
Well-Known Member
I have almost seven years in and my pension would be around $8.37 a month. So it probably makes sense to take the eight percent match.
Serf
Well-Known Member
Yes if you get a lump sum it would equate to an after tax net of 50-70k. Assuming you worked 20-30 yrs. With inflation that’s no more than a severance check. Or you invest in an annuity and earn gas money each month.
falcon back
Well-Known Member
Why not roll it over and let it grow when you retire? Or leave it alone when you retire and let it grow until you decide to take it. That's what I did with both pensions and watching them grow until I decide it's time to start drawing.
Serf
Well-Known Member
Of course that works too. If you’re fortunate enough to be in that position. For most the idea of retirement is to collect those funds upon end of work.
Operational needs
Virescit Vulnere Virtus
Ha! With your senior discount that might get you a lunch at McDonald’s once a month. lol.
falcon back
Well-Known Member
Load up your 401k and waiting to draw your pension becomes reality. Oh wait. Cactus and Tex didn't save enough money in their 401k so they had to take their pension right away. Poor planning on their part.
God you’re a miserable jerk.
falcon back
Well-Known Member
I am living the good life in retirement with a Class A collecting dust while you hate your job that you barely qualified to have. Sounds to me you are the miserable one.
I would wager most people do not know you can retire and delay ,I never knew and FedEx doesn’t tell you so, least they have never told me or anyone i know. Taking pension when I retire anyway, if you can hold off and want to then go for it. Anyone can drop dead tomorrow though.
It will be fine
Well-Known Member
Once you start taking the portable do you have to continue to draw it down or can you pause it and keep getting the 4%? It would be a nice hedge if you could turn withdrawals on and off.
The portable is lump sum or monthly payment ,you decide when you retire.to avoid a tax hit on lump sum you can move it to Ira rollover and take funds out as you desire. Supposedly you can delay taking it when you retire but not pause off and on.Either monthly payment or lump sum.
Mine will be 100k at Dec this yr or 458 month til I die at which time my wife would rec til she dies if I pass before her. I would rather do rollovervira and move the lump sum to it,invest it and draw from as I see fit.
Mine will be 100k at Dec this yr or 458 month til I die at which time my wife would rec til she dies if I pass before her. I would rather do rollovervira and move the lump sum to it,invest it and draw from as I see fit.
falcon back
Well-Known Member
I believe once you start drawing the Portable, the lump sum no longer draws the 4%. I might be mistaken. You can't start and stop the pension.
falcon back
Well-Known Member
I was the one that told you about that option. Tex kept telling me I was mistaken even after you posted the paragraph under "Key Dates" on the retirement website that explained that option.. That guy has made one bad financial move after another and it kills him that others properly planned for retirement while he sleeps in his car or in a tent during retirement.
yea, I remember that
Serf
Well-Known Member
The fine print about on the PPA is the damning truth where it says; “The number in your account is notional.” Meaning it’s not really hard currency set aside. Your 401k however is.
Stat41
Well-Known Member
I know it looks like that on its face but in accounting terms notional is the amount used to calculate further contributions. For instance, if I had 100k in my account (the notional amount) they would start at that amount to determine the yearly percentage contribution that would go into my account .
