Pension for Federal Workers, really isn't anything to crow about. 1.1% of your top 3 years average, for each year worked.
So, if you worked for 15 years and were making $80k, that's 16.5% of your top 3 years, or $13,200 /year. It's nothing like it use to be, where people were looking at 80% for life. So, while it's not insignificant, it's not where may people think it is.
My son's MIL retired from the IRS with full pension. It's a considerable amount yearly - I believe she told me she made around 100k while working and bringing in on pension 60k-70k a year. That's not small potatoes.
She retired right as the fed jab mandate was set to go into effect.
God, how did she stand it!?! I've got a grandfather who worked in government most of his career, and apparently when he worked for the IRS, the power tripping there was so bad it gave him ulcers (he lasted a month before requesting/getting transferred out is my understanding)
Probably has to do with being an Officer vs Enlisted. If you are higher paid and get a 3% pay raise and the lower paid guy gets 3%, guess what, you got more cash than the other guy! This has a snowballing effect whereas over the years you are making a lot more than the other guy. I do remember only once that the Officers got a smaller raise than the Enlisted, it was because the disparity in wages was so much, that they did it. It was a catch up for Enlisted. After that, back to the same routine where each got the same % raise. Go ahead compare the pay scales.
No pension!
Pension for Federal Workers, really isn't anything to crow about. 1.1% of your top 3 years average, for each year worked.
So, if you worked for 15 years and were making $80k, that's 16.5% of your top 3 years, or $13,200 /year. It's nothing like it use to be, where people were looking at 80% for life. So, while it's not insignificant, it's not where may people think it is.
My son's MIL retired from the IRS with full pension. It's a considerable amount yearly - I believe she told me she made around 100k while working and bringing in on pension 60k-70k a year. That's not small potatoes.
She retired right as the fed jab mandate was set to go into effect.
God, how did she stand it!?! I've got a grandfather who worked in government most of his career, and apparently when he worked for the IRS, the power tripping there was so bad it gave him ulcers (he lasted a month before requesting/getting transferred out is my understanding)
No clue. I know by the end, she was a supervisor so basically was in charge, but before that? No idea lol
Probably has to do with being an Officer vs Enlisted. If you are higher paid and get a 3% pay raise and the lower paid guy gets 3%, guess what, you got more cash than the other guy! This has a snowballing effect whereas over the years you are making a lot more than the other guy. I do remember only once that the Officers got a smaller raise than the Enlisted, it was because the disparity in wages was so much, that they did it. It was a catch up for Enlisted. After that, back to the same routine where each got the same % raise. Go ahead compare the pay scales.
Good timing.