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Author: alstroemeria Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59831  
Subject: Re: Retirement meeting today--questions? Date: 10/22/2012 11:46 PM
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Thanks for your comments. AS it happens I made a couple of errors in estimating the pension and was pleasantly surprised.

Error #1: I underestimated the amount of unused sick leave he'd be carrying over (it's appended to service time).

Error #2: I figured they'd calculate his pension based on his age being 63 at time of retirement in December, but since the pension actually starts in January of the year in which he turns 64, they use 64. So he's only docked 6% for "early retirement." <*snort*>

Of course, the pension lady said there is always a discrepancy when the final calcs are done. When I asked for a range of discrepancy (eg, less than $10, up to $100? up to 10%?), she said she didn't know (man, if I had her job, I'd track this just out of curiosity!).

Hubby's passport was apparently an adequate substitute for the missing birth certificate (which I expect is buried in the files and not really missing-). She never looked at or copied our marriage certificate. Particularly given that I never changed my name, it seemed odd. I think we should bring it to the exit interview next month (I know it seems odd that I would be there, but he would not know what to look for on the paperwork--when I say he has zero interest in finances, I'm serious. OTOH, my whole brain glazes over in documents like mortgages, deeds, summons for jury duty, etc., so he interprets those...we are kind of symbiotic ;-)

We decided long ago to accept a smaller pension in order to provide me 100% survivor benefit. I have no pension of my own, and his other pension is really tiny (this one is merely small-). We will be more hurt financially than average by one of our deaths because my SS benefit is 70% of his, not the more typical 50%, and little life insurance (which we will probably stop doing altogether--it's just $50k of group life through his employer--we have none for me.).

Oh--he'd only receive another $21/month with disability retirement rather than regular retirement (or as they call it before age 65, early retirement ;-). Not sure it's worth the hassle.
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