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Question regarding pensions.
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<blockquote data-quote="nhguy" data-source="post: 538605" data-attributes="member: 5248"><p>Buffaloaf,</p><p> </p><p>Go into UPSER.COM and use the retirement claculator. You will need to plug in your info and it will calculate what your pension will be given the date you plan to retire. I can tell you it is very accurate. My pension was within a couple of dollars of what the retirement program showed. It uses all the same formulas. </p><p> </p><p>Can't say if you fall under the old defined benefit pension . Don't know when they changed the pension program. You would know if you are getting a match on your 401k contributions. I know the match was stopped in January09 so I can only assume they didn't stop the match for those that their whole pension is based on the 401k. </p><p> </p><p>As for the retiree medical, as it is today, you get credits based on years of service and you are awarded $250.00 per credit each year. As an example, if you had 20 credits you would get $5,000./ yr towards the cost of your benefits. The cost depends on what coverage you want and if you want vision and dental. Your spouse gets an equal amount for Them. The cost to me this year was $9788.00 each, this included the best plan with both dental and vision. In my example you would have to pay the difference or $4788 for you and your wife. They bill you quarterly for any portion you owe. Most people that have been around a long time usually don't have any out of pocket costs, but it does go up each year.</p><p> </p><p>Hope this helps.</p><p> </p><p>"REMEMBER THE BIG FISH ALWAYS EATS THE LITTLE ONES</p></blockquote><p></p>
[QUOTE="nhguy, post: 538605, member: 5248"] Buffaloaf, Go into UPSER.COM and use the retirement claculator. You will need to plug in your info and it will calculate what your pension will be given the date you plan to retire. I can tell you it is very accurate. My pension was within a couple of dollars of what the retirement program showed. It uses all the same formulas. Can't say if you fall under the old defined benefit pension . Don't know when they changed the pension program. You would know if you are getting a match on your 401k contributions. I know the match was stopped in January09 so I can only assume they didn't stop the match for those that their whole pension is based on the 401k. As for the retiree medical, as it is today, you get credits based on years of service and you are awarded $250.00 per credit each year. As an example, if you had 20 credits you would get $5,000./ yr towards the cost of your benefits. The cost depends on what coverage you want and if you want vision and dental. Your spouse gets an equal amount for Them. The cost to me this year was $9788.00 each, this included the best plan with both dental and vision. In my example you would have to pay the difference or $4788 for you and your wife. They bill you quarterly for any portion you owe. Most people that have been around a long time usually don't have any out of pocket costs, but it does go up each year. Hope this helps. "REMEMBER THE BIG FISH ALWAYS EATS THE LITTLE ONES [/QUOTE]
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