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How does IPERS retirement plan compare with other pensions?
By Tom Dunn | October 29, 2007
sukcorb asked:
I have friend who is a custodian at a High School. When he retires he will have between 20 to 25 five years of service. He earns around 25 thousand a year. He believes he will earn the same retirement as teachers who earn 30 to 50 thousand a year. Can this be true?
Daniel
I have friend who is a custodian at a High School. When he retires he will have between 20 to 25 five years of service. He earns around 25 thousand a year. He believes he will earn the same retirement as teachers who earn 30 to 50 thousand a year. Can this be true?
Daniel
Topics: retirement planning |
November 2nd, 2007 at 12:54 am
sure…if they have 15 or 20 years of service.
A pension is based upon income and length of service. If you have less income then to get the same level of payment you’d need a longer period of service. And vice versa….