Good news for pilots - retirement age

Jay Honeck wrote:


It'll never change, because (after verifying that 60 is the new 50) the
bureaucrats would have to admit that most government pension programs
are absurdly generous and financially unsustainable over time.

Keeping people working longer helps because they are still contributing.



Face it: If they admit that age 60 is "too young" to retire (and we
*all* know it is), they will be forced to reassess their own ridiculous
"30 years and out with full-benefits" policy that allows 52 year-old
gummint employees to retire with full pensions.

My mandatory retirement is age 56. I am eligible at 49 when I will have
25 years. There are no full pensions anymore in the government. Better
read up. The Government started a new retirement system in the mid
80's. There aren't many people left on the old system. The old system
was a pension only system, they did not pay into social security and did
not receive benefits unless they got their 40 quarters somewhere else.
They received 50% of their highest three years of salary as their
retirement. Now the retirement is much more employee financed. I also
pay into social security. I also put the IRS max of $14K this year into
my 401K. My pension will be less than the 50% the other workers got.