What type of monthly annuity Pension would someone around 60 with 30 yrs get per month if making approx. 160- 175K?
22 replies (most recent on top)
Someone making $160-175K a year should be able to figure that out without coming to a layoff forum.
Keep in mind it’s not when you start retirement, but when you commence your pension.
I took the management offer back in 2018 with severance, and commenced pension the following year.
Not sure if that is still an option.
One can only change the leave date/yrs of service but can not change the salary to model the pension cash balance or annuity.
This is incorrect. Not only change you change the leave date, but you can change the date you want to begin payments. Additionally you can also change variables on spouse/no spouse.
Other variables you can enter include:
You may enter specific values, or we will apply your plan defaults.
Salary Increase Percent per year
Bonus Percent per year
Cash Balance Interest Crediting Rate
Lump Sum Interest Rate - 30 Yr. Treasury
Lump Sum Interest Rate - Segment 1
Lump Sum Interest Rate - Segment 2
Lump Sum Interest Rate - Segment 3
But yeah, the first response is spot on. Depends on what the earning history has been. Someone making $150k+ might have been hired in at $40k and had a steep incline only in the last 5 years, or he might have been hired in at more and gotten promoted early, making more than 100k by year 10.
Sounds like the OP is inquiring but can not model it on Fidelity as the OP does not make that amount or is maybe targeting to make that amount when they hit 30 yrs. Fidelity only lets one model based on one's own current income/salary. One can only change the leave date/yrs of service but can not change the salary to model the pension cash balance or annuity. Most likely why they are asking to get some feedback/
There is an app for that, the Fidelity app will model this out for you.
*How can you not know this already *
OP is trolling.
Nowadays...it really depends on which party is in office at the time of your retirement! There seems to be alot of industries relying on your retirement savings to stay afloat 😏
Plan accordingly, as if we do not have enough non-factors already affecting our decisions and timing! I say...don't fall into the "greed trap" when making the retirement decision. Anything you leave behind will get taxed again before going to your heirs... Get out while your still active, healthy and vibrant! If the 2019 flu taught us anything...everybody should have re-evaluated their thoughts on most life decisions!
So after 30 years you haven’t seen the pension estimator on the Fidelity website?
How do you people make it in life?
Makn that kind of money you for sure not in the Mobility part
How can you not know this already
We all still hate these MF who are getting million-dollar pensions.
I was one of those from Post ID: @1lbv+1uR2GkGZ, Mobility, and pension only started when we were absorbed by SBC and a year later became Cingular. So it was a really easy decision for me when I was surplus'd in early 2019. My pension amount wasn't going to be much at all 10 years later when I turned 65, and, I didn't trust the company with anything, so rolled everything over to Fidelity IRAs. I'm not a "financial expert" by any means, but from what I've read over the years, in most cases it's a good idea to take the lump sum and invest it outside. Somewhere under your control. Maybe different if you had the pension and worked 40-50 years with it and took it at 65. But seriously, always check with a financial, retirement, and/or tax specialist for making serious decisions about that...
And you are wrong that Southeast/BellSouth has the cheapest/worst pension. That honor actually goes to the Mobility employees. Most Mobility employees with any tenure were working for YEARS at the company with no pension and it only got added about 15 years ago, with no back credits. And it was the much less rich version. So if you are legacy Mobility (Hired into Cingular or AT&T Wireless or any other acquired company), even if you have 30 years, you only have 15 years of pension credits.
My lumpsum pension payout was $750k
This is why Southeast employees/BellSouth get all annoyed. We are the cheapest to employ due to cost of living, and the cheapest to pay out of a pension since we get straight cash value. Then we find out that the rules are different, and we are the cheapest to get rid of because we don't get our pension multiplied by 3 or 4. Sure, we have the assurance that we get what we got, but even if someone's pension takes the interest hit of 30 or even 40%, it's still way more than our cash value will ever be.
So if we get grumpy when people start talking about their crazy stupid payouts, please know why.
anywhere between 9 and 11 dollars a month
I recently retired at 53. Bargained for tech position in Ohio. My lumpsum pension payout was $750k
Lie. You don't have it better that D9 people.
Pointless to ask that question here.
D-mb question. Your fidelity pension Calculator will give you this answer…
Take the Lump Sum and reinvest it.
I recently retired at 53. Bargained for tech position in Ohio. My lumpsum pension payout was $750k. Also got $150k termination pay and $12k for my unused vacation and personal days. Hope this helps.
The answer is still "Take the lump sum."
You should be able to check your pension balances in Fidelity. There is also a fun little calculator that will let you run different scenarios to show you how it would affect your monthly payment. Everybody's answer will be different based on hiring salary, salary growth, and of course, which division you came from originally (PacBell, BellSouth, etc.) as each of those has different guidelines