Federal Employees and Retirement

[Schifference]

Is it better financially speaking to have one employee retire after 40 years or 2 different employees that each retire after 20 years? It seems to me that paying one pension is better than paying 2.

Pension reform might be in order. Maybe pensions should be based on 40 years for Federal Employees. Maybe they can be vested if that is the correct word after 10 years and collect 25% when they hit 67. After 20 years 50%, 30 years 75%, full retirement after 40 years and age 67.

What do you think?

[Swordsmyth]

No pensions for anyone but the military, let them save or work elsewhere.

[Schifference]

No pensions for anyone but the military, let them save or work elsewhere.

Okay but answer the question. Does it cost more to pay 2 employees a retirement after 20 years or one after 40?

[Swordsmyth]

Okay but answer the question. Does it cost more to pay 2 employees a retirement after 20 years or one after 40?

I don't know the answer to that, it would depend on details of the pension plan that I don't know.

[oyarde]

Okay but answer the question. Does it cost more to pay 2 employees a retirement after 20 years or one after 40?

I do not know what it is like now but if I recall correctly , back in the day military pensions pd half of base pay for twenty years and 2/3rds for thirty years and that was the only two options . Those should be the only pensions the rest of them should just be using IRA's , 401K's or whatever .

[timosman]

Okay but answer the question. Does it cost more to pay 2 employees a retirement after 20 years or one after 40?

Federal employees problems.

[Schifference]

I don't know the answer to that, it would depend on details of the pension plan that I don't know.

Would you agree that eliminating pensions would probably not happen but paying less for those pensions would be a big plus. Unfunded liabilities are a huge debt hanging over all States and the Federal Govt. It seems logical that giving full pension after 20 years encourages people to leave after 20.

Senators and Congress should not receive pensions.

[Schifference]

Wouldn't it be sweet if Trump said, "no pension for you."

[Swordsmyth]

Would you agree that eliminating pensions would probably not happen but paying less for those pensions would be a big plus. Unfunded liabilities are a huge debt hanging over all States and the Federal Govt. It seems logical that giving full pension after 20 years encourages people to leave after 20.

Senators and Congress should not receive pensions.

I agree, I just wanted to mention that civilian government workers really shouldn't get a pension.

[Swordsmyth]

It seems logical that giving full pension after 20 years encourages people to leave after 20.

I have heard of people who work 20 years in one state then retire and move to another state, work 20 years there and then retire on both pensions.