My husband was just informed he could purchase service credit (1.2 years) from his first year he worked for a government agency over 32 years ago and it is based on a his lowest salary during his working career.
(He is retiring after 31 years service). The amount they want him to send in is $5,534 to cover this 1.2 years. This would increase his monthly benefit by approximately $72.00 a month, so it looks like after six years it would break even.... Is this worth the $5,534 right now... or am I missing something here.
(He is retiring after 31 years service). The amount they want him to send in is $5,534 to cover this 1.2 years. This would increase his monthly benefit by approximately $72.00 a month, so it looks like after six years it would break even.... Is this worth the $5,534 right now... or am I missing something here.