Quote:
Originally Posted by gatotom
social security.......all I can say when I get it in 6 more yrs is that I hope it will pay my boat payment.
We should be so lucky to get what our government retired people get, I believe its 70% of your last 3 highest yrs wages. Now thats a retirement system.
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Actually the federal employee retirement system was revamped about 20 years ago...not nearly the deal now it was then. Of course many folks were grandfathered in. Even in the original FERS they used high 5 years and it was dependent on years of service: i.e., 35% w/25 years at age 55; 40% w/25 years at age 60; 50% w/30 years art age 65, etc. Very convoluted formulas. Plus it was all taxeable.