Pensions

[chonchisyque]

44.925 % is better than nothing

 

[pronstar]

Here’s a really informative podcast of 401k’s, pensions and particularly CALPERS.

If you don’t know who runs CALPERS, this may be worth a listen…

‎Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business on Apple Podcasts

‎Business · 2024

podcasts.apple.com

 

[TPC]

I'm in and drawing off of 3 pension plans.
I earn enough to buy anything I want, do anything I want, anytime I want and enjoy retirement and I do. Been the best 15 years of my life.

Most my social security is taken by Medicare and I pay additional for a PPO supplement.
Medicare isn't free despite what the left Politian's tell you. It's expensive, it's mandatory and you will pay for it.

Wife is in 3 pension plans.
For every dollar she contributes her employer kicks in about 8 + what that 9 total earns. It's invested.
She's way too young to retire and if quitting now she'd lose those contributed 8's and what they've earned.

When I die she'll collect 100% of my pensions for life, paid Medicare PPO supplement, reimbursement for Medicare + a generous COLA + a bonus check for a years worth of my pensions (actually 14 months). She plans to be a crazy dog, cat and burro adoption lady. She'll be well self financed to pull off that bucket list adventure.

I was on Facebook for a short while and was contacted by ex GFs and friends that are in serious financial ruts and never planned for retirement. Blew all their money devil may care.
- But they had these cool Apple watches they bought on credit.

Don't say fuck the future - the future fucks you.

 

[havasujeeper]

44.925 % is better than nothing

I was fortunate. I now live with my deceased partner's gal, who got her hubby's lifetime pension, so I'm back at my 99.85%. Payback is a bitch. Since we are not married, she also still receives her deceased hubby's Social Security, so life is good. No, life is great!

 

[socal0487]

7% to 8%? I retired 3 years ago LBPD mine was 3% at 50, I did 29 years and left on my 50th birthday!

I think the 7-8% he’s referring to is what employees pay into cal pers. I’m PEPRA so 2.7 @ 57 but I pay in 12.5% currently.

 

[havasujeeper]

Employee contributions have increased substantially. Nothing is like the good old days.

 

[zbudman]

I retired from Santa Barbara County. It’s a 1937 Act County. I’m curious how the cola’s work for CalPers. I’ve been getting 3% for the past several years.

 

[havasujeeper]

COLA was negotiated every 3rd year, during new contract talks. I retired at 2% per year.

 

[Not_Tonto]

8 years 6 months and 22 days until the Air Force starts paying me that retirement. I guess I need to start figuring out what I want to do when I grow up and am retired at 38.

 

[Echo Lodge]

2 Pensions for a combined 90% of my highest last year income. Lifetime medical covering 81% of my costs. Money in a 457k plan. Everything is paid off and the biggest reason I was able to retired at 53... I am still on my first marriage!

 

[C_J_J_C]

I am very happy for everyone who EARNED there pensions and benifits but I am fearful for new hires. The second/third/fourth ect. lower levels of some of these plans will not be enough to retire on alone.

What is the best, if started today, pension for new hires program?
Does anyone even offer lifetime medical to new hires anymore?

 

[pronstar]

If I was a participant, I’d be worried that no one on CAPLERS board has investment experience.
Especially since they recently unveiled their plan to invest in riskier investments.

They're all teachers and bureaucrats.

IMHO Wall St will get fatter while unfunded liabilities continue to spiral out of control.
I’m happy to be proven wrong about this…

 

[rush1]

30 years IAM ,plus 401k .Wife has California teachers retirement .

 

[BoatCop]

My biggest issue with Arizona's Public Safety Retirement is that when it was revamped, after the 2008-9 turn-down is the way the COLA, or Permanent Benefit Increase (as they call it) is figured. It used to be set on a formula, based on whatever increase the fund(s) investments realized. When it was changed, they based it on CPI, which wasn't an issue, except they capped it at 2%. That was fine when we had CPIs in the around 1% range, but this last year when, thanks to FJB, it was over 6%, we actually lost spending power. The ones (Phoenix area Police and Fire Union "leaders") who negotiated on behalf of the members should be taken out and hung.

 

[zbudman]

I've been getting nice, yearly Cola increases ever since I retired. The guys working.............not so much in way of raises.

 

[LuauLounge]

There is nothing to worry about CA public pension stocks, they got out of tobacco, oil and anything that isn't green.

 

[pronstar]

There is nothing to worry about CA public pension stocks, they got out of tobacco, oil and anything that isn't green.

That explains why their books are in the red

 

[clarence]

There is nothing to worry about CA public pension stocks, they got out of tobacco, oil and anything that isn't green.

One of the reasons I got into tobacco and oil.