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RETIRED
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Is anyone an HR God familiar with Cal PERS regs?
I have a gal pal that was 20+ years as an LEO, retired as a Sergeant.
She cashed out her retirement at separation. Yeah...I know not smart, my comment was farging dumb.....anyways, she has the funds to buy back the years plus military time and the extra five years, yada yada...... She claims that if she gets a PERS job even for one day she can fund the retirement, but extra years along with her military time.......so cal is best. She's cute and sleeps with me...... 
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1983/3.6, backdate to long hood 2012 ML350 3.0 Turbo Diesel |
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06-08-2014, 12:51 PM
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Registered
Join Date: Feb 2013
Posts: 600
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She is probably correct in that she can "re-deposit" the funds that she "cashed out", if she gets another CALPERS job, however there will probably be an additional cost associated because of the interest "Not earned" by the CALPERS investment fund while she was in possession of the "cashed out" funds. If she is nearing 50 years old, then she can expect to pay about $33,000 per year of military time that she wants to buy. Three years will cost her right at a hundred grand. What she really needs to do is make an appointment at the CALPERS office closest to her. It won't cost her a penny and they can give her a "price" right to the dollar, of what she can expect to pay and what her monthly pension will be. |
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06-08-2014, 01:23 PM
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Join Date: Oct 2003
Location: Roseville, CA
Posts: 3,066
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My understanding is she would have to vest again in CalPERS in order to buy time back. Vesting takes 5 years.
She also needs to look into if she even can buy time back. I cannot since they changed the rules before I got into the system. I'm not sure how it works if someone under the old rules cashed out and tries to buy back in.
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1992 968 Polar Silver 2010 Toyota Highlander SE 2006 Lexus LS430 ML |
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06-08-2014, 01:25 PM
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RETIRED
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Then she needs a job.....anyone out there that offer her a short time gig to buy back and bail?
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1983/3.6, backdate to long hood 2012 ML350 3.0 Turbo Diesel |
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06-08-2014, 01:33 PM
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Registered
Join Date: Sep 2009
Location: North of You
Posts: 9,160
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Totally unrelated statements, I'm sure.
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"A machine you build yourself is a vote for a different way of life. There are things you have to earn with your hands." |
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06-08-2014, 02:34 PM
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RETIRED
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I am the Vulcan of Love.....
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1983/3.6, backdate to long hood 2012 ML350 3.0 Turbo Diesel |
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06-08-2014, 03:49 PM
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Da cab
