Good morning everyone, I'm a city police officer with a lopfi pension, which takes 10 years to be vested. In February I will be vested in the pension, however it would be about 30% of my top 3 pay averaged out which equates to about 1400 a month. The longer you stay the more the percentage goes up, by about 3 percent each year.
I'm looking to move away from law enforcement and have a job interview next week. The pay would be comparable with additional profit sharing, and bonuses it should put me making about 8k more a year than I am now.
My question is if you were in my shoes, would you keep the pension there and then at 55 start drawing the 1400 a month or roll it into my IRA which has about 65k in it currently. Also lopfi gives an annual cola of 3 percent each year to your payout.
I'm looking to move away from law enforcement and have a job interview next week. The pay would be comparable with additional profit sharing, and bonuses it should put me making about 8k more a year than I am now.
My question is if you were in my shoes, would you keep the pension there and then at 55 start drawing the 1400 a month or roll it into my IRA which has about 65k in it currently. Also lopfi gives an annual cola of 3 percent each year to your payout.
Statistics: Posted by BWJ4700 — Fri Nov 22, 2024 6:19 am — Replies 0 — Views 20