07-13-2006, 08:06 PM | #1 |
Demiurge
Join Date: Aug 2005
Posts: 36,365
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which retirement plan?
there is the pension-type plan (state of Texas) which is:
(years of service credit times average of highest five annual salaries times 2.3% multiplier). Vesting after 5 years, can only roll out your contribution (matching stays with state). versus one that is more like traditional IRA. 6.5% payroll deduction, plus 7% matching, 100% vested after one year. Decision is irrevocable. After you choose one, you can't switch. With the 2nd one, you have a choice of various companies that have annuities and funds and stuff. |
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