FoxHunter
Well-known member
- Joined
- Jan 4, 2002
- Posts
- 679
There a a lot of reasons to continue past age 60.
The obvious are the loss of a pension, but even with a solid pension there are other reasons to continue.
Mine are:
1) I like going to work, like the job.
2) I like working where I work.
3) I will have only 19 years credit at age 60 towards my max 25 years in my pension.
4) My health insurance cost me $80 a month now, $530 a month after retirement.
5) I keep my company paid life insurance.
6) When I retire I have to make a selection of how I receive my pension. The norm is a 50% Survivor Benefit. My wife will get 50% of my pension for her life if I die after retirement. This benefit reduces my pension by about 13%. If my wife dies the day after I retire, my pension is reduced for the rest of my life. If still working and the doctor tells me that I have 6 months to live I can retire and opt for the 100% survivor option so my wife will get 100% of my pension for life.
The obvious are the loss of a pension, but even with a solid pension there are other reasons to continue.
Mine are:
1) I like going to work, like the job.
2) I like working where I work.
3) I will have only 19 years credit at age 60 towards my max 25 years in my pension.
4) My health insurance cost me $80 a month now, $530 a month after retirement.
5) I keep my company paid life insurance.
6) When I retire I have to make a selection of how I receive my pension. The norm is a 50% Survivor Benefit. My wife will get 50% of my pension for her life if I die after retirement. This benefit reduces my pension by about 13%. If my wife dies the day after I retire, my pension is reduced for the rest of my life. If still working and the doctor tells me that I have 6 months to live I can retire and opt for the 100% survivor option so my wife will get 100% of my pension for life.
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