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XPO | Retirement Question

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thestrap

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If a person has, lets say, 22 years with the company, and is 47 years old, at what age can they start getting money from their company pension and how much would they get per month if they can start drawing it now?
 
thestrap said:
If a person has, lets say, 22 years with the company, and is 47 years old, at what age can they start getting money from their company pension and how much would they get per month if they can start drawing it now?
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When we had the pension, they used the rule of 85. Years of service and age had to add up to 85. I'm sure the same rule still applies for the pension fund. You would have to wait 8 more years.

I had 10 years in when the pension was froze and I would only get 550 a month when I am 65. So don't look for a lot of money.
 
A recent retiree I am aquainted with told me he draws around $1,100/month. He qualified for the the 85 rule and I am not sure exactly how many years he had in but it was around 18 I think. Age of 47+22years service=69...;)...85 needed for early withdrawal,still need 8 more years by my calculation.
 
:hide: If my memory serves me correctly, you must have 5 years service and be at least 55 tears old to qualify for early retirement. :smilie_132:
 
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