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I had a pension once ... 25 years ago. I did not stay at the place for the requisite 5 years, so bye-bye pension. That was the last pension I was ever close to getting. All 401K and IRA for me.
I have another now former co-worker who had been our our state pension program for 5 years. Her parents are federal workers and are about to retire with their pensions.
She was 31, single - and met a man online who worked in a neighboring state. She left her job to be with him. She thought she could simply get another pension job in that neighboring state (Nevada) and life would be good.
Uhhhhh NO.
She was offered a job with a municipality - but it was yanked when a federal grant was lost - and they lost 35 firemen.
Unemployment in that state is much, much higher than here.
The reality is that pensioners with a few exceptions wake up every day and put their shoes on the same as everyone else. Once a month they wake up with a smile knowing that money has been deposited in their account. Allow them that one day as they made the decisions that got them there.
The reality is that pensioners with a few exceptions wake up every day and put their shoes on the same as everyone else. Once a month they wake up with a smile knowing that money has been deposited in their account. Allow them that one day as they made the decisions that got them there.
Twice a month I wake up with that smile. Pension on the first of the month and Social Security on the second Wednesday. I had made my decisions decades ago.
Originally Posted by Gandalara From March 3, 2014, Los Angeles Times:
"Such "salary spiking" was banned in 1993 by CalPERS, the state's largest public employee retirement system, to help control spiraling costs. But 20 of California's 58 counties — including Los Angeles, Ventura, Orange and San Diego — do not participate in CalPERS and their employees may legally continue to spike their salaries."
I am retired in the CalSTRS system and I know very little about CalPERS, which as you certainly know is a completely separate system. I am curious to know what about CalPERS "stinks", in your opinion. Is the basic pension computation formula not generous enough? Is your contribution amount withheld from your salary too onerous? Too many years required before vesting? Or perhaps some other factor(s)?
I was unclear.
CalPERS doesn't stink ... the counties that still allow spiking stinks.
Twice a month I wake up with that smile. Pension on the first of the month and Social Security on the second Wednesday. I had made my decisions decades ago.
I am far too young to get SS. However this is my thirteenth year on pension. I love it.
It is important to find a region where you can live and do the things you want within the budget you have.
Twice a month I wake up with that smile. Pension on the first of the month and Social Security on the second Wednesday. I had made my decisions decades ago.
Yup, I left out SS because of the thread title but I am with you.
Oh my, between my husband and I we both get an average of one retirement check per week! We are actually making more in retirement than working. My 2 retirements are first on the month and on the 3rd Wed. His is on the first, and the second Wed. We wake up every morning happy to be alive and able to live exactly like we want to.
I retired 6 years early with a small initial monthly pension from the U.S. government and had wait for my other pensions to kick in at age 60, my USAFR military pay and 62, my little SSA monthly pension!
I'm now 66 and all is much much better! We live overseas where our cost of living is very affordable and we can live on just 50% of my monthly pension, where as the other 50% goes into our nest egg every month! Can't complaint, we live pretty good!
Oh my, between my husband and I we both get an average of one retirement check per week! We are actually making more in retirement than working. My 2 retirements are first on the month and on the 3rd Wed. His is on the first, and the second Wed. We wake up every morning happy to be alive and able to live exactly like we want to.
Congrats on doing what you did and reaping the reward.
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