What in the world is this rule of seventy or something like that that I keep hearing about?
8 replies (most recent on top)
Uhhhhhmmm if you have 50 years with the company aren't you at least 68 years old ? LOL Why aren't you already retired ? At what age did you start with company ? I'm so confused LOL
I have 50 years in this year and obviously am over 55. LOL. So, they can't mess with my monthly pension, right? Because I am retiring in June. I hope so!
There is a rule of 72. 72 divided by Interest rate is how long it takes to double your money.
Really, Come back to this post next year and tell all of us how things worked out!! Best of luck!!
No word on what is going to happen to pension. This pension talk is mere speculation.
When pensions are soon to be frozen, these metrics will be utilized to determine cash value of pensions. The amount determined will then be paid in lump sum to recipient. Cash or cash with 401k contribution. If your under 55, by the end of 2018, this will be your only option. I'm confident, I'm out here in Bloomington, so might as well, get the info out there. Good Luck!
rule of seventy... that made me laugh... i guess i'm easily amused...
You mean 70 rule? Age plus years with the company?