Quote:
Originally Posted by Joe Bob
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......  |
CALPERS eliminated the purchase of "air time" a couple of years ago at the height of the "public pensions are going to bankrupt us !!" hysteria.
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.