Originally Posted by
BrulesRulez
What about inflation? That check isn’t the same 20-30 years down the road assuming you retire today. Imagine when you retire in 20 - 30 years and then 20-30 more years to live on that check.
This is certainly true. Our max pension payout is 130,000 per year till you die and that was established somewhere around 1996. Somewhere will correct me exactly what year we signed that.
To have the same purchasing power as 130,000 today that it did in 1996, we’d need to be getting 210,000 now.
I’d agree our 130,000 needs to be drastically upped (image a 30 year old kid hired today, he’s going to retire in 2048!), i’d still rather have 130,000 per year to supplement my social security and 401K rather than no fixed income. It’s basically supposed to be beer and food money at that point.