Retire and Live Longer
- Imagine working as long as you possibly can, or until your maximum retirement age, to ensure you have sufficient funds for your Retirement, only to die within two years of retiring?
An actuarial study conducted on some of the larger US Pension Funds including Boeing Aerospace, indicates that employees who retired at the age of 65, died within two years of retirement.
Dr Ephrem (Siao Chung) Cheng provided the results from an Actuarial Study on the correlation between Retirement Age and Longevity.
The studies were based on the number of Pension Fund cheques sent to Boeing retirees. The Boeing experience was that employees retiring at age 65 received pension cheques for 18 months, on average, prior to death. A similar experience was discovered at Lockheed Martin, where on average, employees received pension cheques for just 17 months.
The entire story might be behind a paywall, but there are other reports if you look around a bit.Get out while you can.
Labels: pension
posted by SCC at 12:01 AM
76 Comments:
Maybe they died because they had no reasons to keep on living?
They had their job, then they had nothing?
Way too many police officers stay until forced out at age 63! I guess they have no life outside the police department and that truly is sad!
YOU are your OWN retirement.
Don't depend upon a handout from a "mom & dad" job.
The security is FALSE!
About 20 years ago a popular late light talk show host
(Bruce Williams) fielded many calls from over the road truckers.
To a man, they said they were "doomed": had no chance to
improve their lot in life. Williams said USA Today was sold at
EVERY truck stop in America. He told them to read the "Money
Section" (Green Section) and throw away the rest. Gradually you
will learn about finance, the terms, stocks, bonds, mutual funds.
Bruce told them "There IS no excuse. You CAN learn. You don't
eat a whole sub sandwich. You attack it in manageable bites, pieces.
Same with finance. Get educated slowly. You won't regret it."
Stay busy. Find a hobby or a second, even third career.
My father worked for 43 years, retired at 65 and lived until 89. It’s genetics.
Go work in a state that allows you to retire with twenty years. Then if you still want to work, find a department that allows you to do so without cutting into your retirement, or go work security at a federal courthouse.
Look at applying with US Border Patrol. They pay damn good with good benefits.
Get the hell out of cities that are run by communist-cop hating democrats. It’s not worth it.
I crack up when I hear guys like LT R.S. From the detail unit bragging about being maxed out and all his money and property across the country. Refusing to retire until his 63rd birthday. Thanks for putting into the pension fund. Hopefully you can collect a few checks after retirement.
Oh, Oh... I was forced out at 63 around a year ago. I wonder if I'll only get another 6 or 8 checks and then croak? I've been using my weights and treadmill for a few months again, this getting old really sucks. I really enjoy the extra free time. I'm getting an hour or so more sleep now, I like that also.
I recall something similar in the Air Force. Their study in the late 80's found that something like 80-90% of MSgts died within 24 months of retiring. Their conclusion was that the culprit was stress. Specifically that bad things starting happening only when the stressors were removed, not while they were being experienced and tolerated. Food for thought.
Interesting that this phenomenon is not just at my husband’s former employer. I have been stunned at the number of his former colleagues who worked 30 years to get their pensions and dropped dead of heart attacks shortly after retiring. It wasn’t just old, fat, out of shape guys either. It has been almost exclusively men though. Perhaps there is something to the theory that they coped with unrelenting stress for years and then when the stress went away, their bodies gave out.
I’m glad my husband retired as soon as he could. So far we have been retired ten years and are doing fine.
Anonymous Anonymous said...
Way too many police officers stay until forced out at age 63! I guess they have no life outside the police department and that truly is sad!
6/27/2019 12:18:00 AM
Quite a statement from someone who has no idea what he is talking about and making the assumption they have no life outside the CPD
I for one stayed until I was 63. Stayed for several reasons but one was to max out in deferred and prepare myself financially for retirement which I did. Now 15 years later I travel, enjoy my friends and neighbors both on and from off the job that you said I didn’t have and never worked a day after I retired. Or did I want to retire earlier and be like many officers who did that and now are still working shit jobs just to keep up with inflation
As far as reasons for staying until 63, some were having kids later in life, health problems and believe it or not the job was not that bad
Not advocating for staying that long but you do what’s best for you and don’t judge or worry about the people that stayed until 63 and make stupid statements about they have no life outside the department
Anonymous Anonymous said...
I crack up when I hear guys like LT R.S. From the detail unit bragging about being maxed out and all his money and property across the country. Refusing to retire until his 63rd birthday. Thanks for putting into the pension fund. Hopefully you can collect a few checks after retirement.
Totally false narrative. The pension is complaining about too many officers living too long and draining the pension Maybe 30 years ago officers died after retiring late, not anymore. Look at the pension statistics and you will see there are thousands of retirees in their 70’s, 80’s and 90’s.
Don’t know Lt R.S. and it’s not cool to brag about your finances and prepare yourself for retirement or should he have left a $125,000 job and be working now as a greeter at Walmart and be complaining like some retirees about the dollar it cost them now that the pension board requires that letter to be notarized
21 yrs and hoping for 21 more. Left at 50 and had a late start on Def Comp as it was started about my 20 yr mark. Ended up with a nice DC lump. New guys/gals/other who are smart and got on the DC program on day one should end up with a bucketful of DC funds that can give them a nice supplement to the pension check. Moved away, still in Illinois :( but in a semi rural area. Golf, fish, hike, bike and usually go away for a month or so in Jan or Feb. Remember that the day you leave nobody is going to put plywood over the windows and padlock the front door of the unit or district you worked in. Come back a week later and nobody will know who you are.
The average number of pension checks a retiree gets in cpd is 18 before they die. The politicians keep talking about the pension crisis, that they created, but when 18 checks is the average then there is something more wrong with fund than poor management.
Then why do so many retirees return to work? Hint: it’s not for the money.
If you are spiritually empty, devoid of imagination, and your job is the only thing that gives interest and meaning to your life, you’re a dead man walking anyway.
As mention, in the military , an old saying was half the guys who retire at 30 years , which is usually about 48 years old don't live another 5 years. I see so many cops here talking about retiring at 50-55 with 30 years in. You had better realize time spent working does not buy you extra time on this rock.
Get out after 25 and a day, find a part-time job in another state where the weather is good year round. And try to put as much in your 401k as possible from day one of employment!
Maybe when Kidney bean re-tires he can teach a Ethics class at one of the colleges!
It's more than urban legend in the medical profession
that doctors in certain specialities live longer that others
after retirement. You hear that they only live about 2 yrs.
after retirement no matter what the age. I believe that the
culprit is that they made the job their whole life. After
retirement, they had no identity.
In military boot camp they strip the individual identity, then
rebuild it into the military mode. At civilian retirement, you
need to shift into a lifetime hobby or interest. Learning is
lifelong and today with electronics you are not hampered by
inclement weather or mobility problems. Radio is free and
there's something on 24 hrs/day. Ham radio is cool even if
you buy a receiver only (not inexpensive; no outdoor antenna
required). Some of these guys really get into it on the air and
fights ensue. Priceless free comedy.
stress is a killer along with bad work hours and bad diet. These things take a toll on a person when they occur during a long working career. If you smoke or drink too much, well, that just makes things much worse. I retired at 55, had major heart surgery in my mid 60's, but also experienced cancer. You must lead a clean life for starters especially if you have a family history of certain illnesses. I have seen many of my friends not make it out of their 60's. But, the advise to retire from the police department by 55 is good advise. Life is short and it goes by quickly. Healthy living and regular exercise will go a long way to help you enjoy your retirement.
This aerospace stuff is almost like medicine: very technical,
very precise, very demanding. The aerospace guys usually
read outside their professions, so that can't be the problem.
There are plenty of side jobs available to them: math tutoring,
science teaching. Don't make the job your whole life. Like
Dave Ramsey says, someday you WILL leave the job: quit,
being fired or death. Job is just a means to the end: money,
food, clothing, shelter. You need an exit plan other than that
retirement party.
This has been a known fact at USPS and the railroads for decades.
Retirees surviving more than 24 months were/are very rare.
Get out while you can.
Labels: pension
Yes don't wait; get on, get in and get out...
I have been retired 14 years now.I spent 35 years on the job and retired in my mid 50's. One of the things is to GET OUT OF THE HOUSE!, Do something, part time job, volunteer work, anything. Sitting at home ( or all day on a bar stool) shortens your life. Go out, take trips, enjoy life. It will keep you going.
I have buried way too many POs that just retired and did nothing.
I am at 246 checks after retiring, kinda of blows up the 18 check theory.
The social security retirement age was deliberately designed around math that showed people would die shortly after. But that was done in the 1930s and it didn't account for a variety of changes not only in technology but in the jobs themselves that was already underway.
One of the reasons SS is in bad shape now is because people didn't die in large numbers shortly after 65 like they were supposed too. It wasn't supposed to be a pyramid scheme alone, but rather a pyramid scheme that rarely paid out. Instead people kept living.
If this were valid for the population as whole social security would be fine shape. My guess is that it isn't even valid for the corporations mentioned unless the author is discussing studies done before 1950.
There is a story going around where Hospice nurses said that what people regretted at the end where three things:
1) they wished they spent more quality time with their kids/family
2) they wished they hadn't work so hard at their job
3) they wished they retired earlier.
I retired from two police pensions and teacher's retirement at 70. My pension income is $170,000 with life time medical. With the wife's teacher's retirement money is not a problem.
I am not in hospice, but I think about these three things every day.
I wish I thought thinking about them when I could still do something about it.
I plan to live a very long time after retirement. My secret? White wine spritzers. I will share my secret with all.
Now, kees me you fool!!!!
good luck selling your tax rich property
OR, you could just be a reporter for CWB.
Feature story today is a short-sleeved, sometimes wife-beater
T-shirt dude who has robbed two banks in past week.
Kicker: dude has visible bicep tattoo.
(They're not making them any smarter these days)
Usual ball cap, shades. FBI has tatt photo evidence.
Why did you expose that tatt? Dude, it was hot outside!
Looking for 3 squares and Federal A/C.
Think people should worry about their own retirement age and date and not others
In other studies I’ve seen when you drop the retirement age to 55 the length of life post retirement goes up substantially.
So yes SCC you’re absolutely right.... get out while you can.
Lots of stress in the aircraft industry whether it’s the top managerial or in the airplane assembly line.
Bailed out airlines and jet manufacturers are feeling the pressure of an unsure, uncertain industry. Besides any leftover obama over regulations, new socialist green deal order is looking to ban aircraft altogether.
If they’re looking to blame anyone, it will probably be a couple white guys from Dayton named Wilbur and Orville.
Long hours, big production demands, long travel to and from there’s enough pent-up stress that’s managed poorly, then all of a sudden one day you’re not working anymore. The human body takes on a whole different kind of toll.
There’s more to it than just get out while you can and it’s different for everybody.
It’s nice when you’re young, full of life, vigor and have these big exit plans.
Nothing worse than getting forced out or getting kicked out when job misery or miserable conditions set the bar.
Then there’s crooked politicians squandering, pillaging and tapping away medical and pension funds.
I know everyone's financial situation is different,but there were a couple of things that I did that allowed me to get out at 55.
I put as much as I could in Def. Comp. (Total stock index).
As I neared retirement, I moved 2 years of living expenses into fixed.
Opened a 'Roth' account with Vanguard. Again, an index fund (target date retirement).
No taxes upon withdrawal.
At retirement, moved my Def. Comp. to Vanguard. Buried in Nationwide's fine print, you'll find they charge a certain % on your balance.
I know most coppers eyes glaze over when talkling about investing, but its your hard earned money.
If you want advice, hire a 'fee based fiduciary' advisor. You sit down a couple of times, get unbiased info, and you're done. Don't give your money to an advisor who tries to 'sell' you something and takes a yearly commission.
Again, if you have family, medical, tuition, obligations I understand you can't save as much, and may have to stay otj longer.
We've all seen guys spending $ on BS, and then complain that they have no money. Don't be that guy. Hopefully at retirement you'll be financially secure, enjoy life, and collect lots of pension checks!
The problem as I see it is that some peoples' personality and identity as a human being become inextricably interwined with their job/career. When that is gone they are gone.
Yup, in the Army, officers say that if you stay for 30, you'll die in 5. Part of it is that you are go-go-go and then stop, part of it is that momma isn't used to you hanging around all the time, part of it is that no one needs you anymore (no driver, no one stands when you enter a room, no one brings you coffee, no one asks your advice, no one asks for a decision). Add to it a used up body (haha, airborne much?) My dad retired with 29, he's still here 30 years later, I retired with 20. Several of my peers who hung on are already gone.
Anonymous Anonymous said...
Go work in a state that allows you to retire with twenty years. Then if you still want to work, find a department that allows you to do so without cutting into your retirement, or go work security at a federal courthouse.
Look at applying with US Border Patrol. They pay damn good with good benefits.
Get the hell out of cities that are run by communist-cop hating democrats. It’s not worth it.
Good idea. I can retire from CPD and move to the southern border of Texas and work for the US Border Patrol and live with the migrants. Sounds like a plan to me
Anonymous Anonymous said...
My father worked for 43 years, retired at 65 and lived until 89. It’s genetics.
Have to agree with you along with another 4,533 CPD retirees who are between 70 and 99 and collecting their pensions
SCC, I think you have this one wrong. The idea here isn't that waiting til 65 is the danger.
Its much more likely that for men retirement is itself the danger, and that getting pushed out at 65 or any age kills them.
You see it now and again with retirees from your job, including folks who "retire" in their 40s or 50s. Its really not healthy for me to not have something productive to do.
Retired 1999 after thirty years on the job. Never looked back & enjoy life. I know though being able survive thirty years in today’s job would for sure be a short retirement as the article reports.
So many coppers I worked rarely took vacations and instead worked every paid detail they could at the expense of their family and health.
Most of them died soon after retirement and having no life afterwards.
I thought our life expectancy after retirement was about 7 years?
At our monthly retirement meetings, they read off a lengthy list of our members who have died since the last meeting. Since we worked in heavy manufacturing, with lots of exposure to a whole slew of chemicals, the usual cause is cancer. We traded years off our lives for a good living while we worked....
One of the happiest days of my life was my 1st day of the CPD Academy..My happiest day was when I retired 3 years ago..
No one on their deathbed ever said, "I wish I spent more time at work."
Anonymous Old Guy said...
I am at 246 checks after retiring, kinda of blows up the 18 check theory.
The guy with the18 check theory has no clue. He was just blowing smoke
You should start retirement planning the day you start the academy.
And the goal is to get the most money out of the pension fund.
Not by getting biggest checks, but the most checks.
Anonymous Anonymous said...
The average number of pension checks a retiree gets in cpd is 18 before they die. The politicians keep talking about the pension crisis, that they created, but when 18 checks is the average then there is something more wrong with fund than poor management.
This has to be the dumbest and most asinine statement ever put on the blog. Just checked the pension board website and for 2017, the latest posted and it showed the number of retirees from age 65 to 99 ( who even if all retired at 63 would be past 18 checks) was 7,021, that’s 7021. There are 387 who are between 85 and 89. Even if everyone retired at 63 the youngest would have received 264 checks and the oldest 312 checks. In 2017 there were over 7,000 the oldest getting 432 checks if he retired at 63
I have no idea where you came up with the 18 check crap, but it is totally false
More genetics I think. My father did 40 years and is 84 years old. I did 32, retired and 6 months later was diagnosed with stsge 4 cancer. Unfortunately I will be one of the short time in retirement people. I was hoping gor 30 years in retirement.
Have to agree with you along with another 4,533 CPD retirees who are between 70 and 99 and collecting their pensions
6/27/2019 12:36:00 PM
They call it the ONE FOOT Club, as in.....well, I think you'll get the idea.
I'll soon be walking for the Recording Secretary position. At 75+, I don't run for anything.
Some people lose their spark for life when they have no work. These are a dying breed.
Former alder-person Ricardo Munoz acquitted of a misdemeanor domestic battery charge with the wife as the victim.
The wife's testimony was not consistent with the version offered by the prosecutors in the charge.
Ain't no free ride anywhere, esp. Army....
They already know that. Especially with the "Lucky 30's."
You think you're maxing out and have hit easy street.
YOU think, I'm out at age 51, I'm good until 81 or 85:
maybe 35 years more on a monthly check, plus health
bennies. But wow, it's like I was in jail for 30, they rode me
hard, esp. when they knew I was a lifer. Now the joke's on
me. I don't know any other life. I have no plan, no path.
Amen!!
Anonymous Anonymous said...
The average number of pension checks a retiree gets in cpd is 18 before they die. The politicians keep talking about the pension crisis, that they created, but when 18 checks is the average then there is something more wrong with fund than poor management.
6/27/2019 05:50:00 AM
18 months is absolutely incorrect. Don’t know where you got that from?
OH NO!
(from: CWB)
Health inspectors close DOWN last Boystown 24-HR food joint
(ihop) because of violations just ahead of Pride weekend.
OH - FUCking - NO!
The food palace is working hard to rectify these deficiencies,
but they probably won't be resolved until AFTER the Pride.
I'm so fucking crushed!
I like to think I provide dedicated unbiased surveillance of
the ca''mutiny. I balance my actions and always error on
the side of caution (my caution). This is my highest calling.
To observe, to serve (myself) and protect (myself). Always,
always put yourself first.
Show up at call in a kilt and let the medical start early
I have heard about this before. People, men in particular, retire and then are dead within 2 years. Why? I think it is a feeling of no longer being need for something really important stuff and the mind sends a message to the body that "its ok to let go".
My mother recently had a stroke at age 94. Had to put her in hospice. She hung on quite a bit longer than any of us would have expected, considering she was deprived of both food and water. The hospice nurse at one point speculated "she must have some unfinished business" since she appeared to fight death rather than surrendering to it. Considering she hadn't worked since the 1950's and I managed all her business affairs, I don't think it was any type of business-business. Was it something personal? Doubt that too. Most of her friends had already died. Who knows. She eventually did pass, but I think there is something to the line of thinking that there is a mind-body connection as to when it is ok to let go and/or there is no longer any purpose for you here.
Bottom line, find something to keep busy at, whether it is a hobby, another job or whatever. You will live longer.
OH NO!
(from: CWB)
Health inspectors close DOWN last Boystown 24-HR food joint
(ihop) because of violations just ahead of Pride weekend.
OH - FUCking - NO!
The food palace is working hard to rectify these deficiencies,
but they probably won't be resolved until AFTER the Pride.
I'm so fucking crushed!
*************************
Really sad to hear because this was one of the last places left in LP/LV that had parking. But in recent weeks, the management really did seem to be absent. No longer had a cashier on duty; servers rang up all the bills. Always took a lot longer to get seated (even when they had a bunch of open tables) and a lot longer to get served one you were seated.
Ain't no free ride anywhere, esp. Army....
They already know that. Especially with the "Lucky 30's."
You think you're maxing out and have hit easy street.
YOU think, I'm out at age 51, I'm good until 81 or 85:
maybe 35 years more on a monthly check, plus health
bennies. But wow, it's like I was in jail for 30, they rode me
hard, esp. when they knew I was a lifer. Now the joke's on
me. I don't know any other life. I have no plan, no path.
6/27/2019 06:04:00 PM
Consider getting a real estate license. It's probably the exact opposite of the Army, since you'll be a free-wheeling independent contractor but there are lots of coaches and trainers out there to help you plot your path. The discipline you learned in the service will serve you well in the real estate industry, because most in the real industry lack that discipline, which is why many of them fail within the first 24 months.
From a 30 year veteran...of the real estate industry.
The average number of pension checks a retiree gets in cpd is 18 before they die. The politicians keep talking about the pension crisis, that they created, but when 18 checks is the average then there is something more wrong with fund than poor management.
6/27/2019 05:50:00 AM
18 months is absolutely incorrect. Don’t know where you got that from?
He’s having a flashback from 50 years ago
Death bed.....
Yeah, and no one will ever say "I wish I spent more time with
Joe Biden"
Anonymous said...
More genetics I think. My father did 40 years and is 84 years old. I did 32, retired and 6 months later was diagnosed with stsge 4 cancer. Unfortunately I will be one of the short time in retirement people. I was hoping gor 30 years in retirement.
6/27/2019 05:09:00 PM
Prayers for you. Keep up the fight.
doesnt make the news much but the border patrol works on all the borders. michigan, minn, ohio, n.y. and the northern tier states. you dont have to guard the wall in the desert gringo!
Statistics can be very subjective.
Another way of looking at it is that the people who worked until they were 65 wanted to work until they were 65. And when they were forced to retire the meaning of their life disappeared with it. Their purpose for living was gone, which is unfortunate because the world needs all that life experience and wisdom. People getting close to retirement really should be thinking about how to pass all that knowledge along after they leave the work force. You’d be surprised the “sunset” careers that people have created for themselves.
"...I wish I spent more time with Joe Biden..."
Amen to that.
6/27/2019 02:13:00 PM
That's exactly what I said, substitute CPD for the State Police and that was me.
Anonymous Anonymous said...
doesnt make the news much but the border patrol works on all the borders. michigan, minn, ohio, n.y. and the northern tier states. you dont have to guard the wall in the desert gringo!
6/28/2019 12:33:00 AM
Yeah, no stress on the Border Patrol.
Yeesh!
Anonymous Anonymous said...
Anonymous Anonymous said...
My father worked for 43 years, retired at 65 and lived until 89. It’s genetics.
Have to agree with you along with another 4,533 CPD retirees who are between 70 and 99 and collecting their pensions
6/27/2019 12:36:00 PM
---
maybe it's genetics ... but moreso it's food. I know no one wants to get into this but it is. Stop eating fake food. When your father lived there was not so much of it. The lard of yesteryear was far better than the soybean oil of today - you get it.
And get a hobby. Get 10 hobbies. Don't burn out all your reltionships because you are a big, tough cop. Pretend you have a normal job because there is light at the end of the tunnel. Take as much time off as you need. Fuck saving up time due, you'll be too old to enjoy the $ later anyway. Stop reading the paper. Ignore the millenial liberal crap, the papers are just designed to rouse your anger. It will pass. Let the criminals be criminals - that's what the politicians want. Read the writing on the wall. Laugh it off - laugh it all off completely - EVERYDAY - don't EVER let this current shit build up in your psyche. It's a mental game.
Anonymous Anonymous said...
doesnt make the news much but the border patrol works on all the borders. michigan, minn, ohio, n.y. and the northern tier states. you dont have to guard the wall in the desert gringo!
6/28/2019 12:33:00 AM
Might be true but most of the agents are on the southern borders and on each coast where there are points of entry. Also have to be under 40 years of age and the pay for a G5 is $36,000. Also it would be like starting on CPD and saying I’ll work in 016. You start a new job with the feds and you are at the bottom of the ladder. Have two friends that went with the FBI and returned to CPD. First 7 years were where they wanted to send you nationally, not your choice or request
I’m retiring at 50 with 28 yrs and free medical from m the military in February, have fun and stay frosty
Statistics can be very subjective.
Another way of looking at it is that the people who worked until they were 65 wanted to work until they were 65. And when they were forced to retire the meaning of their life disappeared with it. Their purpose for living was gone, which is unfortunate because the world needs all that life experience and wisdom. People getting close to retirement really should be thinking about how to pass all that knowledge along after they leave the work force. You’d be surprised the “sunset” careers that people have created for themselves.
Not sure about sunset careers. I retired at 63 and have been enjoying every minute of it. Screw the second career. I worked long enough and keep busy and what amazes me is how I worked and raised a family because now it seems there are not enough hours in the day
Lol on this. True that. I can't believe how many coppers still work until 63. I retired at age 50 and moved to Costa Rica. I have zero regrets. None. I come home for summertime to work but enjoy being retired. If you can go at 55 then do it. And if you have kids in school as I do you can still do it.
I know I often speak to deaf ears here and should quit wasting my time lol. But start a NON LEO business. I was able to retire at 20 years due to starting a home inspection business in Chicago. I now have 6 Inspectors working for me and I have the highest rated company on Yelp in Illinois under home Inspectors. I'm not bragging and not here to tout my company. I'm just saying you can be done with CPD in 20 years if you plan accordingly.
I once took 30 days for some BS and made more $ on suspension. I laughed all the way to the bank.
My point is there is life after CPD and no need to work "special employment".
Guys let me tell you there is more money to be made out there than you can imagine. You just gotta have the drive to get it.
Law enforcement is not the career it was when I started off in Oct 1995. Writing is on the wall. Do 20 and go.
My point is there is life after CPD and no need to work "special employment".
Guys let me tell you there is more money to be made out there than you can imagine. You just gotta have the drive to get it.
Law enforcement is not the career it was when I started off in Oct 1995. Writing is on the wall. Do 20 and go.
6/29/2019 07:19:00 AM
Enjoy retirement MS.
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