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Reply to "2nd interview with CFPB - safe agency?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You can convert you have 30 or 60 days once you join to decide if you want to switch; that’s what I did.[/quote] Thanks. So, why would you not? Conceivably, could you join CFPB with 25 years under FERS and then do 5 years under the Fed system, then retire at 60 and reap the 1.3 and 1.8% pensions amounts, respectively, based on your 30 years? Does that make sense? I don’t see this info anywhere.[/quote] The proposal you describe is accurate, and many people do it. The reason not to convert is if you do not think you will be there for the long haul and would rather continue to accrue service in FERS. For example, if you came in with 5 years of FERS, converted that to FRB and stayed five years, you would only have 10 years of service in the Fed system and would have to start from zero if you went back to a FERS agency. Rare, but it happens.[/quote]
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