[quote=deadzone]The days of cush pension plans for federal workers are in the past. Plus, if said workers were eligible to retire with these great plans, then why are they still working? Obviously they need the money! Your examples don’t make sense. The assumption that someone’s income (and thus spending power) will not go down dramatically if they lose their job is idiotic.[/quote]
They still work for a number of reasons:
-Their bosses have begged them to hold out for a few years because their intellectual property is still needed by the organization (this is common);
-their employer pays most or all of their spouse’s healthcare premium and they would have to pay most or all their spouse’s premium out of their pension or seek an individual policy for a spouse who has a “preexisting condition”;
-They still owe a small amount of mortgage or auto loan and are endeavoring to pay it off before retirement; and
-they don’t know what they would do with themselves if they didn’t have a place to go to at 7:00 a.m. five days a week 🙂
Actually deadzone, when you take out the gas, lunch and other expenses of going to work every day, many “retirees” with pensions are actually money ahead AFTER retirement!
