Do civilian government employees even get a pension plan anymore? I got an offer a few years back from a three letter agency in DC and I'm pretty sure they just had a 401k.
Right I was talking to a retired, lifelong federal employee who mentioned he didn’t pay SS. Since ‘84 was over 30 years ago I expect the number to flip for those on the new pension scheme, soon.
Yes, 1.1 percent of the average of the highest three years you were paid during your service for each year you worked. So if you did 30 years, you’d make 33 percent pension. That’s on top of the employer match that the government does if you contribute to the Thrift Savings Plan, an ultra low expenses IRA plan for military and federal civilians.