Retirement Perspectives

End of 2009 Balance: $26,529.33 | Current 2010 Balance: $35,792.16
Additional Contributions since 2009: $8,959.00 (including pension)
Non Pension Growth: $303.83 (1.91%)

Discontinued 401a Account: Makes up 2.81 % of my Retirement
$1005.85/$898.62 invested. (New contributions suspended.) Target Date

Discontinued 457 Account: Makes up 2.89% of my Retirement
$1,034.91 (Earns pennies a week and I can’t move the $$$$ until I quit.)

ING DIRECT CD Roth IRA: Makes up 51.27% of my portfolio
$18,350.71/$18,000.00
Up 1.94% from inception +$350.71

Pension: Approximately 43.03% of my portfolio
If I quit tomorrow, I’d just have the cash in the account (earning an automatic 6% until withdrawn)… or I could wait and pull a pension at 55 since I’m vested.

Total Cash in the Account for the lump sum option: $15,400.69 (this is the amount I value my pension at.)

• Service Credit as of 2010 Statement: 5.870 Years of Service
• If I quit tomorrow and didn’t work for Cal Pers ever again, nor anyone else for that matter (so no social security), my pension would equal $5,927.27 a year or $493.94 a month (before taxes)… and I wouldn’t begin receiving the money until I was 55 years old. So best to keep working =)

Assuming I work and have 38 years of service, and am at LEAST 55 when I retire, I’d probably go for option 2… (take less at retirement to insure a surviving spouse gets money too).
• Option 2: my spouse and I would get $2,758 a month… if I croak first, hubby gets $2,758.00 a month till he dies… if he dies first, I’d get $3,195.83 (the unmodified amount) a month till I die.

Excluding my pension, all my other retirement income totals $20,391.47