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Message
re: Private Sector vs state employment
Posted on 4/17/24 at 11:59 am to whoa
Posted on 4/17/24 at 11:59 am to whoa
quote:
If you started working for the state right out of high school, you can retire before 50. Even right out of college, you retire early 50s.
Really not a bad deal, tbh.
I am sure it was different years ago, but the latest LASERS rules will allow you to retire one of two ways:
1. Minimum of 5 years of service up to but not including 20 years of service, you can start drawing at 62 years of age.
2. Minimum 20 years minimum can start drawing immediately, but it will be reduced based on the number of years prior to 62 years of age. 62 qualifies for the full pension amount.
Still, even taking a reduced pension in your 50's allows one to hopefully join the private sector and build additional retirement savings and qualify for SS.
0
Posted on 4/17/24 at 12:01 pm to shellbeachspeckzzz
quote:
but in an engineering setting, would that be the same?
Private engineering will generally pay more, but it depends on the company and the location. You also have to look at what you'd have to put aside in 401k and IRA to get an equivalent to the state pension.
Posted on 4/17/24 at 12:11 pm to shellbeachspeckzzz
With state employment, most people are in it for the retirement benefits.
People who work in private sector are trying to build a career and work their way up the ladder. The only downside is that private sector jobs can be stressful as frick and the work environment can be toxic.
People who work in private sector are trying to build a career and work their way up the ladder. The only downside is that private sector jobs can be stressful as frick and the work environment can be toxic.
Posted on 4/17/24 at 11:33 pm to PUB
CONgress is blowing it off because they claim it will cost 100s if billions
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