Retirement Planning with a pension Throwaway account. I recently switched jobs and am now examining my retirement plans. Here are my stats. 50 years old living in the USA. Plan to retire in SE Asia in early to mid 60s. I have spent most of my career as a high school teacher. When I turn 62, I will receive a defined benefit retirement of 27,900. After 62, I will receive an annual …

Pension question, should I purchase my time? Hello all! Hoping for some advice in what to do for a job transition I’m going through. I’m in the application process for a career offering a 50% pension at 20 years of service or a 75% pension at 25 years of service. I have the option to purchase my existing time with my current employer (5 years), although it is extremely expensive. I will no…

Pension vs salary increase I currently have a full time job in my field. It pays $91,000, has standard benefits package, requires 25% travel, the rest of the time is wfh. One unique feature here is I have a pension, which becomes vested at 5 years. I am in my 3rd year at the company. I have a job offer for another local company in a similar field that will pay $110,000, …

Pension + 403b. Am I setting myself up properly? I am 30 and in my state’s teacher pension system (Alabama). I plan to stay in the system until I retire. I have the option to contribute to 403b and get a 5% match through my employer, so I contribute 7%. I make about 53k. Wife is a bit younger, is only in the pension, also plans to stay until retiring. She makes about 55k. My plan has been fo…

Pension lump sum payment? My mother currently has $64,000 in her pension. She is 64, turning 65 in April 2025. We have no family longevity, at all. We are both surprised she is still alive based on our family history. Rest of the family is all dead. Anyway, she is wanting to pull her entire pension out to pay off her home equity loan. There is $54,000 on the HELOC. Would…

Logic When Pension is Involved I am a teacher with a pension. I am mid forties and also contributing to a 403b. What would be your logic knowing both? I feel like I may be over saving and not living enough. submitted by /u/Pawsywawsy3

pension conversion to an IRA Hello all. I recently discovered that I have a pension from a job that I had 30+ yrs ago. This is found $$ , albeit small , it was a great surprise. (pre-tax lump sum $30K ish..) I will be sending this money to a new Vanguard IRA account. Can I convert this to a Roth IRA once it is at Vanguard? I understand the 5 year rule, no problem, as I plan…

What should I do with this money sitting in a pension plan? Hi I’m a 27(M) currently employed at a private company that offers a 401k making 70k before tax (first fulltime job, it’s been about a year now). Living with my parents atm I just pay them 500 a month. Really helps with trying to catch up. In addtion to the 401k I also have a Roth IRA and a Brokerage. 401k : 5,632.32 (ignoring vested addtion sin…

investing while in a pension? I think this is probably a silly question, but recently started a job with a pension. I can’t manage how the money deducted from my paycheck into the pension is invested, right? submitted by /u/red_it337

Can I give my pension to my dad? Hi I (24f) am a teacher, I have been teaching for a few years and I know this is the career for me because despises it’s difficulties I absolutely love it! Before I was a teacher I worked in a job for a year with a good pension scheme and also contributed some from my wages (not loads I was 18). I have a small pension from this which won’t reall…

Retired Teachers with a pension I’m curious what your other retirement savings are/were and how you feel you’re set up in retirement? Im a 34 year old teacher/coach in Texas. My wife(also a teacher) and I also have a Roth we contribute to and will (hopefully) max out again once our kids are out of daycare. For retirement, we will have 2 pensions and whatever we save and I’m cu…

What is my pension worth? I’m 38 years old and I’ve had the same union job for 15 years that includes a pension (that I don’t have to contribute to). I have nothing else saved currently. The calculator says if I quit now and retire at 65 the pension will pay me $1,253 a month for life. If I keep working till 65 and keep getting my 3% annual raise the calculator says the …

Grandfather’s pension he’s trying to claim. My grandfather worked for Chevron in the 60’s and 70’s and paid into a pension that was supposed to pay him out when he reached the age of retirement, but all of his records were lost in a flood. Who can I talk to in order to help recover the information, and help get the ball rolling. They are almost out of money and he’s in his 80’s. Would I …

Conagra Pension Administration My brother (48m) passed away. Found in his mail, was a letter from Conagra Pension lump sum payout offering him a lump sum payout. I have no other paperwork determining which Conagra Pension he had. Does anyone have tips for determining who the administrator is as I am frustrated by the calls I have made? Background Call 1 – call to lump sum pay…

Who gets the pension? If an unmarried worker, with a sole child under the age of 18, with a pension passes away, does the pension go to the child, the same way it would have gone to a spouse? Edited: thank you for the info everyone! submitted by /u/EscapingTheLabrynth

Pension plus 401k and no heirs…what would you do? If I work until I’m 62, I’ll have a pension that will give me about $3,000 a month (in today dollars but actual amount will have grown with COLAs). In today dollars, without a mortgage or a car payment, I could easily live off that amount (health insurance is subsidized in retirement too) but with no international travel or splurges. I also have…

Trying to understand my pension Currently I’ve been working for an employer with CalPERS benefits so I don’t pay into social security. According to the information I’ve read it takes 5 years to be fully vested and I’ve been here for 1 year. The website for the benefits calculator says if I retire when I’m 50 (in ten years) I will get $347 a month from CalPERS and my social sec…

Pension for less money? If you had a choice between a job with no pension or a secure job that had a pension but paid 30% less then a job in the private sector which one would you choose? submitted by /u/Saxman7321

Counting on pension? My first of three kids are about to start college. Looking for ways to pay and stopping our (wife and my) 403b contributions seems like an easy choice. I’m 40. My house will will be paid off in 10 years. In 11 years my youngest is projected to be out of college. In 17 years I will retire, at which point my wife and I are projected to get 4,500 a…

Roth IRA with a 70% pension? I am a public school teacher in a strong union state with a solid, generally well-funded pension. I just turned 30. As long as I complete 37 years of service (I will be 59, started teaching right out of college), I am set to receive 70% of my highest 3 years average salary for the rest of my life. I opened a Roth IRA 5 years ago when I was 25, b…