Really? I can't believe it. Good for you, keep on trucking!Yep, 75 gone for good, never to be seen again.
Really? I can't believe it. Good for you, keep on trucking!Yep, 75 gone for good, never to be seen again.
Really? I can't believe it. Good for you, keep on trucking!
And don't dwell on the past. ( My enlistment in the USMC ended forty-five years ago¿¿¿)I retired August 2017 and never looked back. FIRST OF ALL....have all your financial affairs in order and be debt free. I am holding off until age 70 on my SS. CS Retire insurance is $100 a month and the coverage is equal to what we had as an active member. I drive for our Local High School and work 33 hours a week and is permissible under CSPF. The IBT has some great retiree plans on their website, go check it out before buying any others. Main ingredient in this, is to be debt free and don't spend your time worrying about something you have no control over!
We had a driver retire at 67, then drive 3-4 trips a week until he re-retired at 86. Told me he figured he’d die if he wasn’t driving.....Back when you were 75??
The only that can make that decision is you. If you think you're ready do it and don't look back!Big decision ahead for those of us contemplating retirement before or after March 29th 2019. Can I get some advice from Brothers who have made this decision.
I didn't even know if I was eligible for retirement when I put in for it. No plan at all. That was nine years ago.The only that can make that decision is you. If you think you're ready do it and don't look back!
I went at 62 had 35 paid years no penalty. No CSPF either.I'm leaving at 62 /29 years at Holland. Giving up some cash but I'm tired of it. Thank god I started in a 401K 25 years ago.
Your fortuneI went at 62 had 35 paid years no penalty. No CSPF either.
When I'm driving 16 hours and there's nothing much to do I think about :::: like:
I'm 52/27 in CSPF. What if I just cashed out and became an expat in a 3rd world country? Somewhere that has a low cost of living, fairly good infrastructure, and a relatively large English speaking expat community? Live like Jimmy Buffett (the poor man version) for a decade or so until the money or health failed and then came back to the US and live off SS (and whatever is left of my frozen CS pension) until I shuffle off this mortal coil?
Used to be 6 percent for every year below 65. It is now 10 percent. Just talked to them a few weeks ago...If you are CSPF there is no lump sum payout. I believe those were made illegal under MEPRA for critically underfunded plans.
Also, CSPF deducts a huge penalty for each year before 65. At 52, I doubt you’d even get a check.
Frequently Asked Questions (FAQs) | Central States Pension Fund
/QDRO How much is my pension worth? Can I get a lump sum? Upon your request, we will advise you of your accrued benefit as of your normal retirement age (age 65) or any other age you request. The amount provided is your monthly accrued benefit payable per month. We are not able to provide a lump sum
Question- I’ve just got to know: how is working a possible/ voluntary 20 more hours killing you quicker?????Point to consider is nobody knows how long they will live and these 60 plus hour weeks are killing us quicker and so maybe think of the big pic and make a plan . Good Luck to all
Ok , ASK your Doctor at age 60 years is it better to keep working 60 plus stressful hours a week till 65 years old or work 40 hours a week & less stress ??? Look around at your barn , because look at barns where guys die on the job and guys die with in 2- 3 years of retiring , because as we old get older our bodies can't do 60 plus hours a week. But IF YOU CAN then excuse me and more power to you and keep up the long hours . And CSPF wants all of us to die young so they don't have to pay out ! think about it, you die and then they keep all or most of that money paid in on your behalf , maybe your old lady might get some ,BUT your kids won't , unlike a 401-K where you can give to your kids . think about it that's a lot of money they have kept over the years .........................Question- I’ve just got to know: how is working a possible/ voluntary 20 more hours killing you quicker?????
I can.... I actually enjoy it.Ok , ASK your Doctor at age 60 years is it better to keep working 60 plus stressful hours a week till 65 years old or work 40 hours a week & less stress ??? Look around at your barn , because look at barns where guys die on the job and guys die with in 2- 3 years of retiring , because as we old get older our bodies can't do 60 plus hours a week. But IF YOU CAN then excuse me and more power to you and keep up the long hours . And CSPF wants all of us to die young so they don't have to pay out ! think about it, you die and then they keep all or most of that money paid in on your behalf , maybe your old lady might get some ,BUT your kids won't , unlike a 401-K where you can give to your kids . think about it that's a lot of money they have kept over the years .........................
Are you sure? I check online pretty often and my amount at age 62 has increased a little instead of decreasing. Also I've not seen any literature on this.Used to be 6 percent for every year below 65. It is now 10 percent. Just talked to them a few weeks ago...
Call CSPF in Des Plaines and ask them directly. The lady I spoke with told me. I am not sure, but think the amount calculated by your age, and years maybe does not include this penalty until you actually file for it. But I have been Wong before.Are you sure? I check online pretty often and my amount at age 62 has increased a little instead of decreasing. Also I've not seen any literature on this.
It will probably be a minimum of 18% to a maximum of 30% if you're 62. Phone # 800-323-5000 Monday- Friday 8-4 cst.You know that would probably be just like something they would try to pull. I knew about the penalty, though for sure it was figured in. Thanks for enlightening me on this. This is why I started this tread.
I meant to say fortunate.Your fortune
I will retire but I take the hit at 62.
It'll be worth it.