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re: So the wife quit her teaching gig, and...
Posted on 7/9/12 at 4:55 pm to thejudge
Posted on 7/9/12 at 4:55 pm to thejudge
I worked for Teachers Retirement in LA for a few years...how many years service does she have?
The posts saying to be completely sure she will NEVER return to public school service have a point. That time will be expensive to buy back. I had people crying in my office all the time because they desperately wanted to retire, and the time was far more expensive to purchase than anticipated. Also, should she ever be in another public retirement system, many have reciprocity where that service can transfer, at least in part if not completely.
Are you sure her benefits would terminate when she is 85? When I worked there all benefits were lifetime, and their brochures still state that. It has been about 10 years since I worked there, though.
The posts saying to be completely sure she will NEVER return to public school service have a point. That time will be expensive to buy back. I had people crying in my office all the time because they desperately wanted to retire, and the time was far more expensive to purchase than anticipated. Also, should she ever be in another public retirement system, many have reciprocity where that service can transfer, at least in part if not completely.
Are you sure her benefits would terminate when she is 85? When I worked there all benefits were lifetime, and their brochures still state that. It has been about 10 years since I worked there, though.
1
Posted on 7/9/12 at 5:22 pm to eleventy
quote:
I ask because my wife is in the same position and thought that was money I would never see. How do you go about getting that?
The retirement lady she spoke with said what she put in is hers. 20% tax and 8% penalty to withdraw early
quote:
Are you sure her benefits would terminate when she is 85? When I worked there all benefits were lifetime, and their brochures still state that. It has been about 10 years since I worked there, though.
They through out 85 as an average life span for retirees during her numbers breakdown
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