196 employees reported this benefit
One of the best things offered by DOE
It is all good. Everything is well taken and appreciated
Best: My current pension plan will give me about 85% base pay at Age 63. Worst: No matching .
The new tier VI is worse than the old tiers, but better than most DB plans out there. Don't know if one can make the full 30 nowadays, but 10 will get you vested and something in old age.
need to be 63 years old to collect. other city agencies you simply need 23years
New employees pay into pension for the duration of their career. Defined pension plan.
I do not know much about any recent pension plans. The one I have s no longer available for recent employees.
Pension is up to 60% of pay for life. Plus you can choose anyone as you beneficiary. So you can assign your youngest child to collect your pension for life after you die.
The pension plan is fair and allows former employees to work F-status for extra pay.
Employees pay into their pension plan with the union and its matched 1-1.