Results 41 to 45 of 45
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02-05-2020, 07:38 PM #41UnregisteredGuest
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02-05-2020, 10:50 PM #42UnregisteredGuest
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02-07-2020, 08:35 AM #43UnregisteredGuest
Boca has a 2% COLA for every year after retirement.
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02-07-2020, 12:48 PM #44UnregisteredGuest
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02-14-2020, 04:24 AM #45UnregisteredGuest
The GOP is basically trying to kill off pensions and put new hires into an investment plan. While the sworn still default into the pension plan when hired, all of the civilians are defaulted into the investment plan. The sworn get one chance to change over to the investment plan. Once you change, you cannot change back. Those who choose to remain in the pension plan will NOT get a COLA in their retirement years. Furthermore, the pension will be based on an average of 8 years of salary.
I recommend that you stick with the pension plan. When you get ready to retire or change career, contact a retirement representative and have them run the numbers to see if it is better to stay in the pension plan or switch to the investment plan before retiring.
The GOP has pretty much gutted the benefits of the pension system in order to favor the investment plan. The key benefit of the investment plan is that you're no longer trapped by a system that keeps you locked in the FRS for 30 years. Under the investment plan, you can go to work in another state, go federal, or go private, and you will be able to take your investment retirement plan with you.
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