So I currently have been working at a Sheriff's Office for the past five years. I am currently on a pension style retirement plan. I pay in, and at 25 years in I am fully vested. As of July 1st they are changing our retirement from that to a 401(a) hybrid plan. (Or at least that is what the little video they gave us said) It states that this is a hybrid plan if we do not pay into social security now. I was wondering the social security tax that is taken out of my paycheck, is that it, does that count as paying into social security? It is stated that with this new 401(a) plan that after a certain amount of time (3 years) I become fully vested and gain all the contributions made from my employer.
I can tell you guys that I'm not exactly sure if I am going to stay for my full 25 years, because... this job is draining. I just want to make sure that I get the most out of the money that I am putting in already.
I can provide more information if it's needed, including the video that they sent us in regards to the changes. I'm not very saavy on any of this retirement stuff. I know I should be, and am trying to be better with this move. Video Here
Submitted June 12, 2017 at 05:18AM by RabidRavioli http://ift.tt/2sTluCc
