Sign up, and you'll be able to vote in polls. Sign up
Apr 3, 2021
8:50:47am
Junior Deputy All-American
Here you go:


1.5% x average highest 5 salary x years of service.

So for her, 1.5% x $60k x 20, or about $18k per year

If she went all the way to 30 years and topped out at $70k, the pension would be around $31.5k per year.

In order to qualify for retirement at any age requires 35 years of service, in which case the pension might be a bit higher.

Not bad, and there is also a defined contribution plan you can choose instead of the DB plan where they just put 10% of your salary into a 401(k) type account, but certainly not scandalous or excessive.
This message has been modified
Originally posted on Apr 3, 2021 at 8:50:47am
Message modified by Junior Deputy on Apr 3, 2021 at 8:52:09am
Message modified by Junior Deputy on Apr 3, 2021 at 8:56:12am
Junior Deputy
Previous username
shakinbaker
Bio page
Junior Deputy
Joined
Aug 13, 2008
Last login
May 6, 2024
Total posts
11,440 (8 FO)
Messages
Author
Time
4/3/21 6:40am

Posting on CougarBoard

In order to post, you will need to either sign up or log in.