nun
Thinks s/he gets paid by the post
- Joined
- Feb 17, 2006
- Messages
- 4,872
Buying into my state's defined benefit plan...
I just got some firm numbers from my ex-employer (state of Massachusetts) on what I need to do to use money from my defined contribution retirement account to buy into their defined benefit plan. They want $183k and for that I will get a lifetime pension starting at age 55 of $19.6k a year. 70% of the pension is inflation index linked. I am a healthy 53 year old male........this looks like an amazing deal......what do you think?
I just got some firm numbers from my ex-employer (state of Massachusetts) on what I need to do to use money from my defined contribution retirement account to buy into their defined benefit plan. They want $183k and for that I will get a lifetime pension starting at age 55 of $19.6k a year. 70% of the pension is inflation index linked. I am a healthy 53 year old male........this looks like an amazing deal......what do you think?
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