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Pension info from the 90s
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<blockquote data-quote="vantexan" data-source="post: 4441888" data-attributes="member: 24302"><p>Take your 5 highest paid qualifying years, average them together. Take 2% of that, multiply that by total years you worked at least 1000 hrs. Divide that by 12 to get your monthly benefit. Say your 5 year average was $40,000. 2% of that is $800. If you qualified all 6 years you worked multiply $800 by 6= $4800. Divide by 12 gives you $400 a month when you turn 60. $340 a month at 55 with an early pension which is 15% less at 55, 3% less each year before 60 with the earliest you can take it at 55. Hopefully you worked in an expensive area with lots of OT to get more.</p></blockquote><p></p>
[QUOTE="vantexan, post: 4441888, member: 24302"] Take your 5 highest paid qualifying years, average them together. Take 2% of that, multiply that by total years you worked at least 1000 hrs. Divide that by 12 to get your monthly benefit. Say your 5 year average was $40,000. 2% of that is $800. If you qualified all 6 years you worked multiply $800 by 6= $4800. Divide by 12 gives you $400 a month when you turn 60. $340 a month at 55 with an early pension which is 15% less at 55, 3% less each year before 60 with the earliest you can take it at 55. Hopefully you worked in an expensive area with lots of OT to get more. [/QUOTE]
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