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DADDY WARBUCKS
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Discussion Starter · #1 ·
Are your military pensions funded like they are in private industry or are they like the social security system funding which is a mere promise to pay and no fund?

If they are funded, what are they invested in?
 

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Custer I don't really know for sure but I think it's more like the SS system
 

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Mystic Knight of the Sea
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Custer said:
Are your military pensions funded like they are in private industry or are they like the social security system funding which is a mere promise to pay and no fund?

If they are funded, what are they invested in?
To the best of my knowledge we are depending on our govt keeping it's promise, nothing else. I guess it doesn't make much difference though. If our govt folds, money would be worthless anyway. But, I'll still have my shootin irons. :D
 

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Custer said:
Did you guys have to make any cash contributions?
Nope........just 20+ years of service.
 

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DADDY WARBUCKS
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Discussion Starter · #7 ·
Just trying to work out some social security issues in my mind and thought about military pensions. I had only one involvement in them and that is when we hired a retired 3 star airforce general.

Prior to 1974, there was no legal requirement for private corporations to have a fund, either. Pensions were usually promises to pay.

In fact, my old outfit is still paying pensions like that to widows of men who worked in the 1920's and 1930's unless they died off since I left a few years ago.
 

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Mystic Knight of the Sea
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No cash contribution. Just blood, sweat, and tears.
 

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DADDY WARBUCKS
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Discussion Starter · #9 ·
Yeah, no doubt about that.

Now, how does it integrate with social security?
 

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Custer said:
Yeah, no doubt about that.

Now, how does it integrate with social security?
The cost of living adjustment is the same as SS.
 

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DADDY WARBUCKS
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Discussion Starter · #11 ·
No, what I mean by integration is if there is any offset for collecting both. Does either payment go down if you collect both?

For example, most private pension plans (defined benefit types) offset the pension payment by the amount of SS. Most long term disability plans do the same. Most plans set a bogey about what per cent of income should be replaced.
 
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