You are talking about withdrawals from a retirement plan (individually-funded 401k's, etc). I'm talking about pension plans, funded by the taxpayer.
I though my "half-pay" comment implied a pension. Perhaps I should have been clearer.
At any rate, you are correct about individual retirement plan pay-outs. If a person has saved all his life, he obviously deserves to reap the benefits.
But too many public pensions are based on unrealistic, slanted formulas. That's taxpayer money slipping away, my FRiend.
My contribution to my “public” pension (superannuation fund) is over $100/week direct cheque-off. Every week, even out of my vacation pay.
Should my benefits be reduced even if the superann fund owes me the money?
No personal income tax in the state of Nevada, the PERS gets funded mainly by the casinos. Also almost no individual property taxes fund education as I understand it.