G***s
发帖数: 739 | 1 Just saw a message asking about UC pension in the UMich vs Davis thread.
Anyway is still a defined benefit one.
There are three tiers now:
1976 Tier:
Minimum retirement age 50, max 60 (age factor reaching 2.5)
Highest age factor 2.5=your highest pension can be equal to 100% of your
highest 3 year average IF you work 40 years in the system.
Full medical contribution for life after 20 years of service.
Lump sum distribution option for pension.
2013 tier:
Min age 55, max 65. for both pension and medical contribution. Basically,
everything is delayed for 5 years.
No lump sum.
2016 tier:
Major change on pension:
Two options were offered:
Pension upto 117k, 401k type after that to 256 k.
401k type only. | G***s
发帖数: 739 | 2 I have compared quite a few university pension plans (UI, UMich, SUNY to
name a few) but failed to find a better one, the one comparable one is the
CALPERS one offered by CalState system, and their highest earning is based
on one year, quite amazing.
If you do have a better one, please share it with us. I am very interested
to learn it. |
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