Tuesday, April 14, 2009

How much is the pension of a government worker that has worked 30 years monthly allotment anybody know?

curious how much a government employee on a pension makes every month?


Which government?

Most pension plans determine the benefit based on a formula using information about the participant and their work history.

Therefore, there is no "ballpark" answer to your question.

Also, whether or not the worker is eligible for social security matters, since sponsors effectively pay half the cost of that benefit already.

As a really wild rule of thumb, a well designed plan wil replace 60%-80% of a participant's income after a full career (say 30 years).

So you could expect that a person making $60,000/year might expect 70% of that as retirement income, say $42,000. But that is probably made up of $20,000 in Social Security and $22,000 or so from the plan.

HOWEVER, that's only a rule of thumb, the actual plan could be much higher or much lower depending on a slew of factors. You would need to look at the plan to tell in any particular case.

Depends on whether they were civilian or military, what pay grade they were, and some other factors. There isn't any single answer to your question.

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