Vesting My Pension
Cha-ching! Today I hit 5 years of service with my employer and vest in my cash balance pension plan. My employer currently contributes 5% of my salary to the pension account plus monthly interest on the balance.
This pension is now worth at least $17,427.06 and will now be tracked in my net worth statements. Yeah ha! Thats a nice little bonus.
While nothing has really changed this certainly will make a significant impact on my net worth. I'll be wearing a smile all day, not so much because of the net worth bump, but recognizing that I have made it this far. I can remember a few years ago when I often wondered how I could make it to 5 yrs of service with my employer. Its scary how time flies.
I will probably soon start wondering if I will make it through another 5 years of service with my employer, but I will sleep better knowing I at least have a pension I can take with me ;-).
This pension is now worth at least $17,427.06 and will now be tracked in my net worth statements. Yeah ha! Thats a nice little bonus.
While nothing has really changed this certainly will make a significant impact on my net worth. I'll be wearing a smile all day, not so much because of the net worth bump, but recognizing that I have made it this far. I can remember a few years ago when I often wondered how I could make it to 5 yrs of service with my employer. Its scary how time flies.
I will probably soon start wondering if I will make it through another 5 years of service with my employer, but I will sleep better knowing I at least have a pension I can take with me ;-).
Comments (8)
DATE: 2:29 PM
Congratulations. It is so nice when good things happen. Makes those bad and tough times, not so bad.
Posted by D | September 10, 2006 3:17 PM
DATE: 10:15 PM
That's great news. Congratulations!For your next trick, you should take the current value of your pension and discount it for inflation up until the day you plan to retire. That's the number that should go into a Current Net Worth estimate.Sorry if that's depressing.Matthew @ Crazy Money
Posted by Matthew | September 10, 2006 3:17 PM
DATE: 10:35 PM
Congrats on the milestone! I know for us, nothing feels better than hitting a milestone and seeing the financial rewards from it!-Medicated
Posted by Medicated Money | September 10, 2006 3:17 PM
DATE: 3:47 PM
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Posted by William | September 10, 2006 3:17 PM
DATE: 10:42 PM
Congrats on the tenure! Do you also get additional weeks of vacation? I think I got 3 weeks after 4 years and then like 4 after 7 years. I have to say that getting 4 weeks of vacation a year in addition to 2 weeks of sick leave is one of the great benefits of tenure. Its also nice to have when you have children as they need to come first. Congrats again!!1mil
Posted by 1mil | September 10, 2006 3:17 PM
DATE: 5:25 PM
I know how you feel... I had one of those cliff-vesting pension and was overjoyed when I finally earned my time this summer...
Posted by Anonymous | September 10, 2006 3:17 PM
DATE: 7:48 AM
Interesting blog...liked it..Ketan (http://greenbuck.blogspot.com)
Posted by Ketan | September 10, 2006 3:17 PM
DATE: 1:58 AM
Congrats. Hey, can you post a link to my blog? It is about my obsession with money. thanks.http://obsessedwithmoney.blogspot.com/
Posted by ObsessedWithMoney | September 10, 2006 3:17 PM