Can anyone give me a buyout number on that combination? I won't be there until shortly after our current contract is up so VZ Benefits Connection won't let me pull up anything other than the monthly:
Single Life Annuity $1,439.90 N/A
Pop-up Joint and 50% Survivor Annuity $1,332.40 $666.20
Pop-up Joint and 60% Survivor Annuity $1,323.45 $794.07
Pop-up Joint and 70% Survivor Annuity $1,309.75 $916.83
Pop-up Joint and 75% Survivor Annuity $1,302.90 $977.18
OP here-
4/2016 I ran the numbers and at 51 years old/25 years it was $380k and 56 with 30 years was $490k.
The pre-55 penalty is half a percent a month for every month under 55 aka 6% a year.
That 75 is a myth because someone could be 49 years old with 29 years service (78) and still not be eligible until age 50 or 30 years. Nothing other than hitting 30 years of service kicks in until at least age 50 and after that the 75 kicks in- 50 with 25, 55 with 20, 60 with 15, etc.
I was hoping someone was 50ish with 25ish that could pull up and post. One has to be under the current contract period to be able to pull it up on Benefit Connection.
“Sweat spot” = something found under your arms, you gorilla.
“Sweet spot”= age plus time served must be both above 55 age and 75 combo or else you get absolutely slammed 6% per year before 55 yrs old.
So take your numbers and subtract 30%. And do something about those sweat spots.
About 430k...ish, I think. minus pre 55 years of age deductions. Which are 6 or 7 percent per year before 55. Plus the future gatt rate has an effect on the lump Doewas told years ago the “ball park” calculation for the lump is your mouthly annuity amount x 12 months x years to 80. For you it is 30 years. 55 years of age with 30 years service is a pretty good “sweat spot”. A younger person will have a larger lump than some on older in the same title and service. Call the vz benefits line, hopefully they can answer your questions.