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Reply #62: You see it happen all the time [View All]

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madville Donating Member (743 posts) Send PM | Profile | Ignore Sun Dec-04-11 08:50 AM
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62. You see it happen all the time
In pension plans where benefits are determined by the highest earning year, many people close to retirement will pour on tens of thousands of dollars in overtime that last year in order to start their pension off higher, maybe in some cases higher than their old base salary. It's not sustainable in this current economic climate because the projected market and real estate gains these funds depend on probably won't materialize.

Another thing that bites states and municipalities in the butt with pensions, the retiree lives somewhere with a high COL so they make $100,000 a year. They retire, haul ass to a rural or low-cost state/area and take that money out of the local economy that is paying them.
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