In Florida, 48% max. after working 30 years min....and no COLA...Yep. If you earn $50K per year, that's $4167/mo gross pay. 70% is 2916/mo. Social Security reduces that by abt $1200/mo. Net is 1717/mo. That is 41% of gross.But that is a pretty good pension. After all you should be in a lower tax bracket and deductions for pension and 401K are no longer needed. Plus you are no longer saving for retirement.Many can live quite well on such a pension. (Of course, we would all like to have more.)
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