Originally Posted by busdriver12

Sure. We have many different ways to take our pension, and I have chosen the Social Security Leveling option. Since I have over 25 years with the company and my high five, it’s not much of a pension cut for me to retire at 58. The SS leveling option will pay me $147K per year until I turn 67, then it drops down to $108K when they assume social security kicks in (though you can take it whenever you like). The point is to maintain a steady income before and after SS.

There is no survivor benefit option for this plan, and you can choose age 62, 65 or 67 to take the higher benefit. I figure the higher benefit will be more useful to me while I’m paying for a mortgage and retiree health insurance.