PBGC forcast payment
 

Got my PBGC est payment forecast. If I wait to withdraw PBGC for 1 year (from age 64 to 65).it increases by 11.1 %. That is pretty well publicized. However, I was surprised to see that if I wait to claim until after 65, the benefit goes down by $150 month. Seems like I knew the WHY at one point, but can't recollect it now.

Seems counter-intuitive to decrease $$$ by postponing the benefit....any thoughts from those still around that have a PBGC benefit large enough that they GAS?


My intent was to delay the PBGC for more than a year after my VEOP date as well as waiting on SS until my full retirement age thereby having 0 income for a year. With no income, I was then gonna Rotherize $$$ starting at the 0% tax bracket. All was well until I saw that waiting to get PBGC actually lowers my monthly benefit( at least that's how I read it)

I’m looking at my projected payout at 65 vs 70 and it increases significantly.

I got new PBGC estimates a few months ago. Can’t find them quickly but IIRC my payment would go up significantly if I waited until age 70. Not gonna do it that long but my idea was the same as yours about trying to delay a year or two and, as you put it, “Rotherize” for a year or two after I turn 65.

Denny

Edit. I think what you are looking at is a Social Security offset that kicks in at age 65 and reduces the benefit by a couple hundred bucks a month. If you delay taking it after 65 it should go up.

Thanks, that seems logical. I didn't put in for the 70 projection. Just got it for my VEOP date and at 65 projection. Mine shows..

Monthly benefit before 12/01/2021 at ... X,479$ and Monthly benefit on/after 12/01 2021 as ...X,333$ which is a decrease of $146/month by waiting. Hmmm

I'll have to do some further digging or contact them....or put in for a later date for the comparison....I expect(ed) it to go up 11% per year.


EDIT.....this is insection A which is for UNMARRIED Participants( which I'm not) When I look at my actual status it does indeed go up 11%... not sure what's up with that sec A( Unmarried participant).....

Crisis averted...even though I still don't understand that sec A


Edit #2 AHAH!!!, that prolly be it. Knew I knew there was something. Seems like my previous estimate explained that but this one didn't Thanks. This getting old stuff sux Thanks Denny

Now, if I could just figure out if I am going to outlive the mortality tables!

I weigh 475#, smoke 3 packs a day, cholesterol at 320 but my doc say the HDL is good and BP at 180/110, have history of diabetes and heart disease in the family. Thank goodness both candidates are gonna cover pre existing conditions. Did I also mention a wee bit of a drinking problem( not really a problem per se)

Whatsha think? :) or :eek:

You gonna live to be 100 at least!!!

Denny

CHUCK LORRE PRODUCTIONS, #329

I exercise regularly. I eat moderate amounts of healthy food. I make sure to get plenty of rest. I see my doctor once a year and my dentist twice a year. I floss every night. I’ve had chest x–rays, cardio stress tests, EKG’s and colonoscopies. I see a psychologist and have a variety of hobbies to reduce stress. I don’t drink. I don’t smoke. I don’t do drugs. I don’t have crazy, reckless sex with strangers.

If Charlie Sheen outlives me, I’m gonna be really ****ed.

Your life sounds boring ;). I bet a night with Charlie would be worth it, but would cost you years of mortality.

That would actually be okay with me!!!:) The Charlie Sheen part that is....

With my family history I most likely will live well into my late 80's and possibly early 90's..........................I just won't know it!!!

Denny

If I work it right, I will. That way I will still have money in my will if I die at age 95.

Duplicate. Deleted.

Every projection I've received indicates the monthly income increases by delaying. I've requested a report at least 3 times in the last 5 years.

I thought it went up by 8% for every year you wait.

I think you can request up to 3 summaries for 3 different projected retirement dates per request. Years ago I called twice so I could get 6 summaries.

The summaries are great ... they provide all of the payout options and a lot of other information.

I ran the numbers, and for me the payout went up 11.1% for each year delayed. In the past. I also got 3 dates when I requested an estimate. .This time I made the request online and for some reason only got 2 dates....could be my error in looking close enough or could be that was all that was offered. But check out your summary....pretty sure it increases 11%per year.


Ps .... SS goes up 8% per year for every year you delay