General Discussion

Ms. Toad

(38,049 posts)

46. Yup. Baby boomer.

Sat Jan 14, 2017, 07:40 PM

Jan 2017

Started teaching in a state school in '78. I left my money in the pension plan when I left teaching after 11 years. I've got bits and pieces in other state systems (3, to be precise) for a total of around 18 years now. They all combine when I retire - if I'm lucky - at 72 (when I have 30 years of service).

Defined benefit plan for however long I live - or take my money out and take my chances that I'm smarter than the average investment bear. I'm no dummy. Any money I ever put in has stayed there.

And - I recently went from a very high paying job to a very low (at least compared to my training) job (about a 60% drop in income). But after being here 5 years it will double the base on which my retirement pay is figured. Assuming I live as long as my parents & grandparents, every penny I gave up comes back to me in retirement. . . . After 5 years, the added benefit for each additional year is much smaller, so I'll re-evaluate then.

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Do you have a pension? [View all] underpants Jan 2017 OP

How many people still do? dhol82 Jan 2017 #1

Not state pensions. dubyadiprecession Jan 2017 #3

Yes I do, I worked 40 plus years for it and have actually been doc03 Jan 2017 #2

Just as a question - dhol82 Jan 2017 #10

Believe it or not I get three. I get one from the PBGC for a doc03 Jan 2017 #18

Mine is, essentially. Ms. Toad Jan 2017 #43

Our pension has the same rules trixie2 Jan 2017 #57

Bricklayer for forty years--no pension. panader0 Jan 2017 #4

My SS went up 1.50 and my supplemental health insurance went up 20.00 a kennedy Jan 2017 #9

Same here my Medicare took all my SS COLA and my supplement went up $15.65 a month. doc03 Jan 2017 #21

Why do you ask? femmocrat Jan 2017 #5

does social security count? spanone Jan 2017 #6

Yes, but a very little amount GP6971 Jan 2017 #7

Matching is much more common these days True Dough Jan 2017 #25

My current employer contributes 5% GP6971 Jan 2017 #27

Sounds like you should apply next door! ;) True Dough Jan 2017 #33

I would too GP6971 Jan 2017 #35

My household has more than one. RedWedge Jan 2017 #8

I do not but my husband does mnhtnbb Jan 2017 #11

My husband is pre-baby boomer since he was born in 1942. mnhtnbb Jan 2017 #42

Pension Polly Hennessey Jan 2017 #12

No pension, just my savings from three careers. oneshooter Jan 2017 #13

NYS Government - defined benefit brooklynite Jan 2017 #14

Wow. I'm surprised by the number of pensioners. Buckeye_Democrat Jan 2017 #15

I think people might be confusing pensions with 401k's or other savings plans frazzled Jan 2017 #17

Yeah, maybe that's it. Buckeye_Democrat Jan 2017 #20

The vast majority of people I know with pensions True Dough Jan 2017 #26

This DU poll seems odd so far, given the overall stats. Buckeye_Democrat Jan 2017 #28

I think we (DU) skew older etherealtruth Jan 2017 #38

I think we also have a lot more government workers, teachers Yupster Jan 2017 #62

Good point. I didn't consider Social Security when I answered. n/t Buckeye_Democrat Jan 2017 #64

Incidentlyy, other than social security, Yupster Jan 2017 #65

State universities do indeed have pensions obamanut2012 Jan 2017 #53

I'm not confused at all. Two pensions. WillowTree Jan 2017 #68

I got in 3 moths before a shift to a 401 plan underpants Jan 2017 #40

Yup. Baby boomer. Ms. Toad Jan 2017 #46

Nice job saving for retirement! Buckeye_Democrat Jan 2017 #48

I do bluecollar2 Jan 2017 #16

Baby Boomer here MichMary Jan 2017 #19

Ours is enough to pay for our drug program and our health insurance. Sadly, it probably won't much appleannie1943 Jan 2017 #22

I am 73 appleannie1943 Jan 2017 #31

Yes, 30 years with IBM. Also have a 403b from 14 years sinkingfeeling Jan 2017 #23

I'd be curious to see ages. Hassin Bin Sober Jan 2017 #24

Very few people of any ages, if they weren't a government employee or union member ... frazzled Jan 2017 #32

Thats why I was curious about ages. The percentage seems way high. Hassin Bin Sober Jan 2017 #61

I have two and my husband has one radical noodle Jan 2017 #29

a frozen pension Skittles Jan 2017 #30

I'm 55 and retired at 54 with ... HeartachesNhangovers Jan 2017 #34

Yes, fortunately. ben_thayer Jan 2017 #36

AFSCME member/pensioner here. yagotme Jan 2017 #58

Hospital pension, we don't pay into SS. ileus Jan 2017 #37

I have a vested pension from one of my jobs where I worked 13 years. beaglelover Jan 2017 #39

A 403b BainsBane Jan 2017 #41

I Have Two RobinA Jan 2017 #44

Sort of. One place I worked froze pensions after I worked there 5 years of my 11 year tenure with stevenleser Jan 2017 #45

You betcha! Ernesto Jan 2017 #47

One of the Best Berlin Vet Jan 2017 #49

Is it true GP6971 Jan 2017 #50

i'm collecting my late husband's. he was DesertFlower Jan 2017 #51

No, a 401-K etherealtruth Jan 2017 #52

Company cashed out our pension Kilgore Jan 2017 #54

Pension, 401k, and SSI Generic Brad Jan 2017 #55

Yes, was one of the last workers in the door to get in on it. Defined benefit trixie2 Jan 2017 #56

yes still have one. union carpenter in a right to work shit hole state juxtaposed Jan 2017 #59

Michigan? trixie2 Jan 2017 #60

I am very lucky that I landed at a retirement company who does have a pension and great benefits.... TrekLuver Jan 2017 #63

yes but I fear Trump will so screw things up edhopper Jan 2017 #66

Two, actually. Yes, one small one from a former employer that I'm now collecting....... WillowTree Jan 2017 #67

Yes, a small one. Yonnie3 Jan 2017 #69

Two of them. blockhead Jan 2017 #70

Even though I am not yet 64 MurrayDelph Jan 2017 #71