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dreamer58

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  1. Thanks...but I hoped I wouldn't "kill the pig" :)......... And I do get to pay the employers cost for this benefit....which is why the buy-in is pretty big numbers. I wonder what others in variouis governmental programs have done in their situations?...I know at least one program in Michigan has a similar buy-in...and believe they are spreading in this era of public agencies suffering from payroll creep and look for ways to get older and more expensive staff out the door.
  2. Greetings: Thank you for your response.....I'm pushing on becoming 54 and assume this buy-in would look really good if I begin collecting in about 4 years. I considered the ratio of payout to buy-in and assume it is a good ratio...but I hate to be like the pig farmer who trades in their pig for packages of bacon...only to realize later they would like a ham everey once in a while! I am somewhat concerned about trading lump sum money for income money....but I guess as long as the contract is iron-clad and the rate of return makes the payoff of the original lumpsum come home fairly quick....it seems it might be worth buying-in. I have looked around other sites and it seems that several governmental pensions systems have begun to adopt this kind of self funded early retirement....and suppose that others are wondering about their particular situation and the "deal".
  3. Greetings: How does one calculate the benefit of purchasing a service credit improvement with 457 money? In this case, a purchase of 75,000 dollars would increase monthly permanent retirement pay out about 1000 dollars per month. I am concerned that using the lump sum money is not a good way to get increased monthly income. If I were a pig farmer and traded my 200 pound pig for monthly bacon deliveries, would I be making a good deal?------ Any help appreciated on how to calculate this appreciated..suppose it impacts 403b people given the teachers retirement buy in programs
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