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I receive my husband's pension and my own pension -both are state pensions. together they are somewhat higher than my salary when I was working-perhaps by about $400. a month.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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My contribution runs about $200/ paycheck, or about 4%. The payback is more than I would ever get investing that, if I live very long. I remember a guy I worked with that retired in the late 1980s, from a public agency in California. With SS he came out with 105% of his last month pay. Their plan also had a lower contribution. Those days are gone, that employer is on the 3rd differ not pension plan since then, each with higher contribution and less benefit.
I don't know what's typical. Mine is $750 a month, with no medical. Not great but I had only about 15 years of contributions for it. Most of my other is from IRA accts.
File under "Yet another straw (or bale of hay) of the tax burden/deficit being piled on the back of the working public".
That's ridiculous.
oh, me likes this
journeyman lineman keeping the power on during storms should retire like a serf
and the tax payers pay?
nothing
because of power generation
suck it
My wife teaches at a private school. She has been there for 30 years. When she retires next year her pension will be $800 a month. This is about 30% of her last salary amount. Is this common? Typical?
If you are getting a pension, how much is it in comparison to your previous earnings?
What concerns me most about this is that your wife was only making roughly about $2650 a month net pay after 30 years at the same school. That can't be right, I didn't do the math but that is likely equivalent to only ~$20 an hour. Maybe public is very different, but the public school teachers in my rural town are all making 80-120k after 15-20 years of service. (Their salaries are public) Most new teachers start at 40-45k.
Are you sure that number is right?
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