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Ask Lane Your Own Question
Category: Tax
Satisfied Customers: 11848
Experience:  Law Degree, specialization in Tax Law and Corporate Law, 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

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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


Could you please attach the document you are responding to?

I would help, but need the details.


Customer: replied 3 years 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

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 and 3 other Tax Specialists are ready to help you
Customer: replied 3 years ago.

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



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

Customer: replied 3 years ago.