I think the whole pension thing is a bit more nuanced than either side of the argument makes it sound. You really need to investigate how well your pension is funded and what protections exist for it. At some level it is fairly easy to calculate the NPV of a pension but if it is more than say five years in the future your assumptions may have a major impact on its NPV.
I work for a quasi-Federal government organization. It isn't strictly government nor is it private. My pension has a full COLA (starting at age 62), I put nothing into it (it is fully funded by my employer) and it is very conservatively funded. Essentially it is funded under the more tight private sector rules vs the more loosey goosey government rules. I have essentially close to zero concerns about my employer paying out. The only risk if I were a few decades younger is they might decide to get rid of it at some point where you'd only accrue the benefits up until they closed it. I also get retiree health care benefits between 55-65 and the employer has a generous Medicare Advantage plan if I decide to go that way when I turn 65. My pension will cover more than half of my retirement costs and along with social security when I start taking that should cover all of my needs.
Personally OP I don't have much insight into what it is like to be a town manager but my first thoughts were what others posted here. It sounds like a job with a lot more responsibility/career risk and combined with the longer commute (even accounting for the supposedly shorter hours) I don't personally think you are being compensated enough for all that compared to existing job
I work for a quasi-Federal government organization. It isn't strictly government nor is it private. My pension has a full COLA (starting at age 62), I put nothing into it (it is fully funded by my employer) and it is very conservatively funded. Essentially it is funded under the more tight private sector rules vs the more loosey goosey government rules. I have essentially close to zero concerns about my employer paying out. The only risk if I were a few decades younger is they might decide to get rid of it at some point where you'd only accrue the benefits up until they closed it. I also get retiree health care benefits between 55-65 and the employer has a generous Medicare Advantage plan if I decide to go that way when I turn 65. My pension will cover more than half of my retirement costs and along with social security when I start taking that should cover all of my needs.
Personally OP I don't have much insight into what it is like to be a town manager but my first thoughts were what others posted here. It sounds like a job with a lot more responsibility/career risk and combined with the longer commute (even accounting for the supposedly shorter hours) I don't personally think you are being compensated enough for all that compared to existing job
Statistics: Posted by THY4373 — Tue Aug 27, 2024 8:08 am
