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Old 05-22-2015, 02:39 PM
 
Location: Retired
648 posts, read 498,231 times
Reputation: 1057

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I work for a division of United Technologies. 3% match on 6% contribution to 401K. Then additional cash payment based on age. The payment used to max out at 8% once you hit your fifties, now the max is 5%.
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Old 05-23-2015, 05:17 AM
 
Location: Loudon, TN
5,788 posts, read 4,843,885 times
Reputation: 19484
Worked for a public utility. They paid 6% of our salary into the pension fund. We paid nothing. We had 401k, but no company match. Retirement is 2% of high 3 year average at 55, + medical and dental ins for life (must sign up for medicare at 65, but they pay the supplement and drug plan).
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Old 05-24-2015, 01:03 PM
 
Location: Albuquerque, NM
1,428 posts, read 2,572,360 times
Reputation: 2536
Quote:
Originally Posted by tom1944 View Post
Wow- what government agency is that? 2.5 per year is very high though. That would require about a 16% of salary funding formula.
New Mexico.


Quote:
Originally Posted by ABQ2015 View Post
A friend retired from State of Oregon at 2.5 percent and another from State of New Mexico with 2.35. Of course their salaries in those states were not so high.
Precisely.
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