High-3 versus High-5 proposal

« Back to Previous Page
Category:
0
♥ 0

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

Blocked by moderator
Posted by (Questions: 1, Answers: 0)
Asked on May 24, 2018 6:42 pm
1367 views
0
✔
Private answer

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????

Blocked by moderator
Posted by (Questions: 0, Answers: 350)
Answered on May 24, 2018 8:49 pm
0
✔
Private answer

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.

Blocked by moderator
Posted by (Questions: 0, Answers: 1)
Answered on May 29, 2018 11:55 pm
0
✔
Private answer

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.

Blocked by moderator
Posted by (Questions: 0, Answers: 350)
Answered on May 31, 2018 1:30 am
« Back to Previous Page