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Money and Finances
Reply to "Pension plan or 401k?"
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[quote=Anonymous]I always wondered about the pension system as well and thought one was safest with fed, then state and least safe with city/county with safest being least likely to completely lose the pension due to insolvency. One obvious risk would be them increasing your required contribution during the next 25 years but I'm not sure if/how they are able to reduce the formula that determines how much you get at the end. Also, you said you're vested after five years with the pension so as long as you're not canned in the next five years you'll still get something. Also, if you leave before you're vested do you forfeit the money or can you request a refund of the money like feds can?[/quote]
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