High-3 versus High-5 proposal

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If we go from the high 3 to the high five would this effect people that are all ready retired?

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Asked on May 24, 2018 6:42 pm
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From everything I have read, it would only include those individuals who have not yet retired. Can you imagine the workload to recompute annuities for everyone who is already retired????

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Answered on May 24, 2018 8:49 pm
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It will make a big difference for my annuity. (High 5 vs high 3) because of a big raise i got 4 years ago. How do i know when to put my retirement paperwork in. 9/29/18 if the high 5 starts October 1st. Otherwise wait a few months. 12/31/18.

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Answered on May 29, 2018 11:55 pm
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In the past, anytime there is a big change in the retirement law, there is a lead time, for example, if they passed this new law today, they might say, anyone who is not retired by 12/31/2018, will have their annuity calculated using the high-5 rules. There is no way to project now what might happen. I am sure it will be posted everywhere, so check back often as we will have something IF it happens.

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Answered on May 31, 2018 1:30 am
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