So those who have worked with the company for 20+ years, what has your pension actually looked like by the time you’ve left? Is it all it is cracked up to be?
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@OP Retired in 2021 PIP of course, 56 years old, got 1.35 million and it’s 1.735 million today. Getting a steady 7k per month check for the rest of my life and will retain the original amount for kids.
If you’re unable to figure out the projection on your own… probably gonna be pip’d before age 55.
It’s pretty straightforward formula for the annuity, from there you can figure out the lump sum
Absolutely. If you retire with 25 years and at least a CL25 in North America , you’re looking at $1.1-1.5M. 26/27 probably closer to $1.5-2M. Some advice, retire at 55 and don’t pull your pension benefit before 59 so you get the max. In your 40’s your goal should be to have enough after tax 401k to float you for your first 5 years in retirement.
Took the PIL at 50, after 21 years with company (CL26) and pension payout was ~$450K which I rolled into 401K. In the past 3 years, it’s more than doubled. It would’ve tripled by now, if not for all the monkeying around with the economy earlier this year.
@a3 you are full of sh-t. 15 year would be well under $1 M even at max pensionable salary.
People come here for information. Take your sad troll life elsewhere.
@a3, full retirement age?
15 years, 1.5mil