Brianeboatman
Recycles dryer sheets
I am 38 and plan to move out of Nevada, where I have worked for the state government for the past 12 years. I will be moving when I'm 48. The question is this, should I purchase 5 years of service credits, sometimes referred to as 'air time'? I currently have $75k saved in a 457 plan and continue to save $1,800 per month into it. The max I can purchase is five years and it will wipe out my savings this far, the $75k. I get 2.67% per year of service. If all goes to plan, I will have 22 years of service when I leave Nevada. I have the option of purchasing five years of service that would give me the pension of a 27 year employee. I can claim the pension at age 55. I've been lurking a bit and have seen some pension haters, but give me your 'dollars and cents' evaluation and not your pensions are evil evaluation. Thanks in advance for your thoughts!
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