I am suggesting what this is about based on govt friends who have retired. The pension is a funded retirement based on a percentage of your salary and years.
The retirement is probably the govt’s version of a self funded retirement plan, similar to a 401(k). That is his money. He can start taking that without penalty at 59 1/2.
I heard tonight his pension is $2 million after just 20 years of work. WTH?
I make a very good salary, have been *maxing* out my 401(k) contributions for well over 20 years, and don’t have even half of that!
What is his salary? And how much does Fedzilla “match”?
The retirement is probably the govt’s version of a self funded retirement plan, similar to a 401(k). That is his money. He can start taking that without penalty at 59 1/2"
You are correct about the the government thrift savings plan, that is your money. It is basically a government version of a 401k and governed by the same rules. There is also a government pension plan based on your years of service. This is what he may lose. Unless the Clinton Foundation pays his legal fees he will need every damn penny of his retirement plus a few million more for legal fees! As the late and great Jackie Gleason said, How Sweet it is!