Military Pension/Social Security/Inheritance/Long Lost Grandmother

[Gator By Marriage]

True story. Banks don’t hold a lot of cash now. My friend was having a facelift done and the Dr didn’t receive the payment in time. They told her the day before she would need to bring cash. The first bank said she would probably need to visit 3 branches to get enough. Turned out two was sufficient but it surprised me.

Not surprising to many others of us. It’s not only difficult in getting a large amount of cash from the avg bank branch, but they really don’t want you bringing them large amounts of cash without warning either.

 

[CDGator]

@bradgator2 - that’s amazing and a much better outcome than my mom’s life insurance mystery of $500 split 3 ways. My mom put all her money into an on-going trust. Mostly because I think the investment company talked her into it as the dementia started and partially because she was concerned what my brother would do with a lump sum. Mom was fairly frugal and thought she would travel the world when she retired. Unfortunately she was in assisted living within a year and then spent 3 years in a nursing home. Thankful she had the money to pay for a nice one but I wish she could have traveled instead. Seedy and I are trying to find the right balance.

 

[Altitude Gator]

@bradgator2 - that’s amazing and a much better outcome than my mom’s life insurance mystery of $500 split 3 ways. My mom put all her money into an on-going trust. Mostly because I think the investment company talked her into it as the dementia started and partially because she was concerned what my brother would do with a lump sum. Mom was fairly frugal and thought she would travel the world when she retired. Unfortunately she was in assisted living within a year and then spent 3 years in a nursing home. Thankful she had the money to pay for a nice one but I wish she could have traveled instead. Seedy and I are trying to find the right balance.

One in a home and one traveling? That seems a nice balance.

 

[B52G8rAC]

I've been doing a little reading regarding the Social Security "timing" regarding my parents. Maybe you old geezers already know this. But this is what I found:

If you wait until the age of 70 to start taking benefits, then you would need 9 years to break even (total cumulative benefits) vs if you started taking at age 62. After the age of 79, then your gamble worked and you will be paid more in the long run.

If you wait until the age of 66 to start taking benefits, then you would still need 9 years to break even (total cumulative benefits) vs if you started taking at age 62. After the age of 75, then you win.

My dad started at 62, and died at 73. Total SS paid out $141,522.
My mom started at 66, and died at 70. Total SS paid out $58,950.

I'd love to know how much both paid in federal/ss taxes over their lifetime.

One other point to consider. If you are married and your spouse does not have 40 quarters of SS contributions, he/she will collect your SS. So delaying the withdrawal is also an insurance payment of sorts.

 

[LagoonGator68]

To be fair... my dad's parents were the ones that did all the genealogy. There is a note where one of these lines contacted my dad at some point and my dad's response, "I dont give a shiit about any of this. Dont ever call me again." They actually wrote that down. Might point back to deet's "massive prick" theory.

The Navy could be a cruel and jealous mistress to its Master Chiefs, one would suspect.

 

[bradgator2]

The Navy could be a cruel and jealous mistress to its Master Chiefs, one would suspect.

Yeah, that’s been a big topic of conversation Goon.
1) No normal Navy person goes on 10 deployments. It obviously explains his rank.
2) No normal Navy person is able to live in the same home their ENTIRE career. Granted, Jacksonville had 3 bases when I grew up there. And he got moved between all 3, multiple times.

My theory: the rigid structure of deployment life actually brought his mind peace. The world made more sense when he was doing that. God knows he didnt do well when he was at home or after retirement. Additionally, the mere thought of the chaos that happens while moving was pure motivation to do whatever it takes to not move his home. Heck, he wouldnt move until his final day even with the ghetto completely surrounding that neighborhood. I dont consider it selfish of him. I did growing up. But now, I think it was the only way he could cope with the world around him.

 

[Bernardo de la Paz]

We are even a descendant of this chick, who was captured and raped by the Iroquois in 1693

Sounds like it's time to start talking to @BNAG8R about some reparations

 

[BMF]

Yeah, that’s been a big topic of conversation Goon.
1) No normal Navy person goes on 10 deployments. It obviously explains his rank.
2) No normal Navy person is able to live in the same home their ENTIRE career. Granted, Jacksonville had 3 bases when I grew up there. And he got moved between all 3, multiple times.

My theory: the rigid structure of deployment life actually brought his mind peace. The world made more sense when he was doing that. God knows he didnt do well when he was at home or after retirement. Additionally, the mere thought of the chaos that happens while moving was pure motivation to do whatever it takes to not move his home. Heck, he wouldnt move until his final day even with the ghetto completely surrounding that neighborhood. I dont consider it selfish of him. I did growing up. But now, I think it was the only way he could cope with the world around him.

My dad's retired Navy enlisted (CPO) - he bounced around all three Jax bases as well. I was born towards the end of his 22 year career (1970) at NAS Jax (where I later worked as a Navy corpsman). He retired in 1972 and died in 1982 from lung cancer at 47 years old (he told my uncle stories of pulling asbestos out of ships using a t-shirt as a respirator). He served during Korea and Vietnam, but was on a ship obviously. He met my mom in Paris and brought her back to the states, 10 years younger than him. Unfortunately, we didn't get much financially after he passed away (and none of the mesothelioma settlements either). We lived off of Roosevelt Blvd & Timuquana, only a couple miles from NAS Jax. We later moved to Mandarin (Julington Creek Road).

 

[Detroitgator]

Yeah, that’s been a big topic of conversation Goon.
1) No normal Navy person goes on 10 deployments. It obviously explains his rank.
2) No normal Navy person is able to live in the same home their ENTIRE career. Granted, Jacksonville had 3 bases when I grew up there. And he got moved between all 3, multiple times.

My theory: the rigid structure of deployment life actually brought his mind peace. The world made more sense when he was doing that. God knows he didnt do well when he was at home or after retirement. Additionally, the mere thought of the chaos that happens while moving was pure motivation to do whatever it takes to not move his home. Heck, he wouldnt move until his final day even with the ghetto completely surrounding that neighborhood. I dont consider it selfish of him. I did growing up. But now, I think it was the only way he could cope with the world around him.

He mighta been a reh-tard

 

[bradgator2]

I really cant find much on my grandad's military service. All I can really find is "civil servant in the USAF, retiring as a GS-12 with 38 years of creditable civil service"

@B52G8rAC .... Would you explain that?

 

[Detroitgator]

I really cant find much on my grandad's military service. All I can really find is "civil servant in the USAF, retiring as a GS-12 with 38 years of creditable civil service"

@B52G8rAC .... Would you explain that?

Probably a mix of active duty and then civil servant and was a GS-12 when he retired. Back then, GS-12 might have been as high as the GS scale went… I don’t think it always went to 15.

 

[bradgator2]

Probably a mix of active duty and then civil servant and was a GS-12 when he retired. Back then, GS-12 might have been as high as the GS scale went… I don’t think it always went to 15.

Interwebz says it’s equivalent to an O4, Major.

Air Force Ranks to Civilian GS Equivalents

www.federalpay.org

 

[Detroitgator]

Interwebz says it’s equivalent to an O4, Major.

Air Force Ranks to Civilian GS Equivalents

www.federalpay.org

Understood, what I meant was that back in his day, the General Scale went up to GS-15 and there was nothing higher than that, and GS-12 was actually very high, there were not a ton of them, and VERY few in the GS-13-15 range. I don't think the SES scale started until around 1980, and that's when the massive bloat of GS-12s through 15s started to happen (and part of why our entitlement piece of the budget is so high... probably higher % than retired military like your dad at this point... HUGE part of the debt problem, and growing). The comparing to military rank is kind of meaningless except in certain protocol situations/roles.

My best guess is that he was in the Air Force for LESS than 20 years (probably much less) and then became a civil servant, his total combined USAF/federal service for retirement was 38 (or whatever you said) years, and he retired as a GS-12 civilian. See it in our paper every day... "served in the Navy for X years, worked on NAS P'cola for another Y years, retired as a GS-Z".

Make sense? For example, NO one in the military (or even a GS person in the civil service) would have ever said that your dad retired as anything other than an E-9 given his service was all in the Navy. They'd never say he "retired as a GS-8" (the GS equivalent of E-9).

 

[Gator By Marriage]

Probably a mix of active duty and then civil servant and was a GS-12 when he retired. Back then, GS-12 might have been as high as the GS scale went… I don’t think it always went to 15.

Actually, before there was SES it went up to a GS-18. SES was a product of the Civil Service Reform Act in the late 70’s.

 

[Detroitgator]

Actually, before there was SES it went up to a GS-18. SES was a product of the Civil Service Reform Act in the late 70’s.

Yeah, I updated my post... but I stick to my "back then, GS-12 and above was pretty damn rare and a pretty big deal"....Even in the mid to late 80's, GS-12 was still a big deal, now they are a dime, no, a penny a dozen, make a LOT of money relatively speaking even for just base pay, let alone the COLA based on zip, and bennies.

For young women who still want a profession AND a family, you are almost colossally stupid for not taking a Federal job (or State to a lesser extent).

 

[Gator By Marriage]

Yeah, I updated my post... but I stick to my "back then, GS-12 and above was pretty damn rare and a pretty big deal".... now they are a dime, no, a penny a dozen.

While not rare today, in most - not all - Fed agencies, the majority of the employees are still GS-12 or below. In many agencies, GS-13 is the beginning of supervisory grades. Some, like many of the big LE agencies, such FBI, DEA, ATF, etc., the top journeyman grade for the agents is a 13 and the supervisors are 14s and up. Also, as someone who was above a 12, I still like to think of myself as having been a pretty big deal!

 

[Detroitgator]

While not rare today, in most - not all - Fed agencies, the majority of the employees are still GS-12 or below. In many agencies, GS-13 is the beginning of supervisory grades. Some, like many of the big LE agencies, such FBI, DEA, ATF, etc., the top journeyman grade for the agents is a 13 and the supervisors are 14s and up. Also, as someone who was above a 12, I still like to think of myself as having been a pretty big deal!

Yes, I believe I clearly stated, "massive bloat"

 

[Gator By Marriage]

Yes, I believe I clearly stated, "massive bloat"

Not gonna lie; that hurts.

 

[Detroitgator]

Not gonna lie; that hurts.

Yeah... for 21 years now, every time I stand there in a TSA line trying to NOT look "agitated", their people who's "job" it is to "spot agitated likely terrorists" are looking at me weird when all I'm think is "EVERY one of these people is getting Fed pay, benefits, and will eventually retire." Now I know they aren't GS and all, but you get the idea!

 

[B52G8rAC]

Two perspectives here. The military service aspect would be documented on a DD214. I suspect that service is included in the 38 years. My dad started his Civil Service when he was 17 during WWII before he entered the Army Air Forces at 18. After his discharge in 1946, he reentered CS and retired at age 55 with 38 years of creditable service. All his Army service was credited. If you don't have the DD214, you can request a replacement if you want.