In super exciting news my TSP passed $200k with the last paycheck so maybe I won't need to stick around for traditional retirement! (I'm 34 now)
Nice job, man!
Yeah, I actually ran some rough numbers after the post and it might be able to provide $1K a year in income by the time I'd have hit MRA. That's versus the almost $1k a month the pension would currently give.
So you're saying NOT cashing out pension and contributing @ 4.4% delayed until payout at MRA is about 1k a month. While cashing out pension is about 1k per year (lets say for 10 working years). Did you calculate what that 10k compounds to until MRA? Probably requires age assumptions.
I'd run the numbers but... it's the weekend :)
I know I need to run the numbers for myself as well, in case this all goes through and I decide to leave before 57 (my MRA). If there is no COLA, no health benefits, and no SSS, it really removes my reasons for staying that long. At 38, I have over $400k in TSP, 17 years into my pension, and a long time to go. If I build soon, sell the current house, and save like mad for a couple years when I'm done helping DS with school, I might be able to go at my more-desired age of 46, but at least by 52. Really wish my position was more likely to be eligible for early outs! The retirement benefits are what would keep me to my MRA, but once they're gone, so is my desire to stay (and I really have a great job).
(As an aside, I'll be in your town for training this week!)