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https://boards.fool.com/eddie-ok-i-guess-this-brings-up-a-couple-of-10257009.aspx
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| Subject: Re: A plan to consider!! | Date: 7/28/1998 11:30 PM | |
| Author: TMFPixy | Number: 4737 of 96354 | |
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Eddie, OK- I guess this brings up a couple of points for me to clarify. My retirement is based on 2.25%of current pay times the number of years of service. The rule of eligibility here is that my age plus my years of service must equal 80. Then I'm adding back in the 6% mandatory retirement dues, SS payment, and some other miscellaneous deduction, to come up with my 65% of pay. O.K., I'll bite. What am I missing?? You said 401k and 457 plans. Now you're talking a formulaic payout which sounds suspiciously like a defined benefit plan, and that may indeed have a Social Security offset. It's either too late for me to be responding to queries, or I'm getting too senile at age 29 to decipher the question anymore. Just color me puzzled. Regards....Pixy |
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