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Bobhaz
Jun Member 2021

Bobhaz

Posts: 55,618 Emerald Posts by user Forum Profile RuneMetrics Profile
Loki said :
Froud said :
I was in a Lyft today (Uber, whatever), and there was a small segment on the radio that dealt with a woman, who was a grandmom of 2 (because she made that a point!), and she goes, "I am 72 and I cannot retire, because I don't have enough savings, and there's no cost of living adjustment, and I just...." Poor lady. ;c
Yeah it's quite sad tbh. My old neighbour back in Australia was in her 70s (or 80s?) and was still working at the local supermarket to pay her bills and rent because the pension wasn't enough to cover things. :(
holy shit this is 1000% unfortunately going to be my mum. but i have no idea how they do pensions so maybe she might be right

13-Aug-2021 14:54:43

Froud
Aug Member 2010

Froud

Posts: 17,906 Opal Posts by user Forum Profile RuneMetrics Profile
There's a thing called "The Drop" in some companies, and it's a program (?) for soon-to-be-retired employees enter, and you somehow contribute money towards it. It has something to do with earning "time" (days off), paying into it, idek... but, you must leave within 5 years after you enter the program. The company somehow matches it/contributes more. I am guessing it has something to do with retirement boards/pension boards.

Then, there's something called "Deferred Compensation," where you put $25.00/per pay into it (or more), and it's on a 5%-25% increase per the company hosting the deferred comp, and when you "retire" or "leave", you get your money back plus whatever was put into it. And the city also has a program that matches it. Well, some cities do. So, if you have $1K into it, the city gives you $1K or similar.

14-Aug-2021 00:59:31

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