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Reply to "Question for teachers.....Purchasing prior service credit towards your pension"
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[quote=Anonymous] If you are quoted tens of thousands of dollars you may be better off investing that money yourself. Also consider that your pension is based on your top three salary years when you retire (or it could be five years by now . . . I don't know). So if you retire earlier your pension will have to last longer and be lower due to your salary being lower because you don't benefit from further COLA or step increases. In Virginia the COLA amounts are low. I know people who are in their 80's on a teaching pension and really having some problems. [/quote]
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