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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 4540
Experience:  Juris Doctorate, CFP and MBA, Providing Financial & Tax advice since 1986
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why am i being pennlized so much after 27 pluse years of good

Resolved Question:

why am i being pennlized so much after 27 pluse years of good yearsworkingand total number of years paying dues add up to over 80 was rule for early retirment
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.


Hi,

Could you please attach the document you are responding to?

I would help, but need the details.

Lane

Customer: replied 1 year ago.


my retirment fund trough the united hood of carpterners/afl cio local 551 /213 houston texas time served year,s of age pluse time servied

Expert:  Lane replied 1 year ago.

I'm sorry, I just don't have enough information to give you informed response...

If you could attach the formula the pension uses, I can help you be sure that they have not miscalculated.

But you will have to provide that information, (but without providing any personally identifying information please)




Usually, the formula is driven by factors such as

(1) highest average yearly earnings (or sometimes it's an average of you last three years)

(2) Years or units of service

(3) age at retirement

And, there is many time a reduction, then, if you are retiring before retirement age, or as part of an early retirement buyout, where you pension agreed to a reduction.



Again, if you can get the applicable documents to me, I can calculate to see whether they are being calculated accurately.


Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 4540
Experience: Juris Doctorate, CFP and MBA, Providing Financial & Tax advice since 1986
Lane and other Tax Specialists are ready to help you
Customer: replied 1 year ago.

united brother hood of carptners local union551 fourmaly 213
houston texas zienth administrator fund provider


 


 

Expert:  Lane replied 1 year ago.


OK, give me a little time and let me see what I can dig up.

Lane
Customer: replied 1 year ago.


ok

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Lane
Lane
JD, MBA, CFP, CRPS
3667 Satisfied Customers
Juris Doctorate, CFP and MBA, Providing Financial & Tax advice since 1986