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Politics : President Barack Obama
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To: michael97123 who wrote (10883)2/25/2008 9:03:01 AM
From: Nicholas Thompson  Read Replies (2) of 149317
 
I think Current fed pensions are based on 1.1% of the average earnings of your high three earning years times the number of years you work, with some minor adjustments downward for widow protection and for the first 5 years of employment . you also earn , since 1988, social security and what you sent aside in the 401k which the feds do match for the first 5%. 90% sounds wrong unless it could be some expired law enforcement pension plan and the guy worked forever. Until 1988 you got no social security and you only get it now if you started after 1988 or switched then to the new system.
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