Thanks in advance
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@gqr... Agree. However, the 2022 Aug segment rates will let you know your potential loss if you retire in 2023 Vs 2022 and also if you are let go in 2023.
The rates for those leaving by Nov 30th have already been published:Aug-21.
1: 0.66. 2: 2.50. 3: 3.12. That's all you need to know if you are leaving this year.
Thanks. Some people, ready for retirement, who qualified , were hoping to get SIRPED. I suspect those people will be lined up for the exit door November 30.
I meant August 2021 rates! Will give you higher lump sum …
If one retires on January 1st it is 20-22% hit based on June - July rates (Ford uses the august rates) so, last day to get the august 22 rates is end of November - start of benefit dec 1st of 22
The interest rates are the IRS segment rates. After Dec 1 2022 the 2022 Aug rates will be used for 2023 pension calculations. The Aug 2022 rates will come out between Sep 21 and Sep 25 of 2022. The rates can be found at:
https://www.irs.gov/retirement-plans/minimum-present-value-segment-rates
The second segment is most critical and every 1 percent increase will decrease your lumpsum by about 10 percent. so please compare Aug 21 rates to Aug 22 rates to see how much you loose.
Hope this helps.
What am I missing. It's 2.25. Been that for a bit of time.
Monday.