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Raytheon Co. Message Board

  • johnbkcc johnbkcc May 18, 2005 1:33 PM Flag

    Is no one interested???

    With all these posters, one would think there would be some interest in rtn's pension plan

    John

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    • "I will be collecting my pension from raytheon in about 1 year.
      If there are pensioners out there, is there somethings i should look out for???"

      Well, John, it seems like you're waiting 'til 60 to collect on that pension. Good idea, especially if you are in good health.

      Inasmuch as you are married, you should consider survivor benefits, at least if your wife will need support if you pass away. But, if in good health, you may want to minimize the survivor "insurance". One way to do that is to let your 401K roll until you are 70, and in the meantime take the 10-year guarantee insurance, as that will cost you only about 4% on your pension, instead of the 10-20% if you take the 50 or 100% survivor benefit.

      Once you have settled on that, don't count on any future COLA increases. Hopefully, you will not have to worry about pension default by Raytheon, but just in case, letting your 401K roll has advantage there also.

      Maybe your question should be the health plan? I suspect that will be more of a problem, as the various pension options aren't really that much different from one another.

      A final note, your pension is calculated on the highest 5-year average salary. If there is anything you can do to maximize that, plan to do it. PTO (vacation) deferral could help bump up that average, as it is paid in a lump sum in the final month of work. But if you are really retired already, you may not have that option.

    • "I will be collecting my pension from raytheon in about 1 year.
      If there are pensioners out there, is there somethings i should look out for???"

      A check (?).

 
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