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Buttafli1277
LIF Adult
Member since 8/05 2638 total posts
Name:
Jennifer
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55/25
Anyone going to the 55/25 seminars next week?
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Posted 5/18/08 5:02 PM  |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: 55/25
Probably the 5/27 one...I am so unsure about this
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| Posted 5/18/08 5:57 PM |
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Candy Girl
Candy girl- you are so sweet!
Member since 11/07 6349 total posts
Name:
erin
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Re: 55/25
I signed up for it. You never know what the future holds and to me, 55/25 is insurance for the future. Besides, if you don't actually retire 55/25 (meaning later,) you get half of your contributions back.
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| Posted 5/18/08 7:46 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: 55/25
I agree with PP. I mean, I don't foresee myself retiring at 55. I think it's kind of young, but who knows what life may hold and there may be a situation where retiring at 55 could be the best thing and I want to make sure I have the best chances to take care of my life.
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| Posted 5/18/08 8:27 PM |
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happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
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Re: 55/25
So are you all enrolling?
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| Posted 5/18/08 8:49 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: 55/25
Most Likely. Honestly, I'd rather that money go into my TRS/TDA.
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| Posted 5/18/08 9:05 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: 55/25
I am still very on the fence about this...I started at 27...in 30 yrs I will be 57...Just so confused about this 
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| Posted 5/18/08 9:07 PM |
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happytobreathe
The Lazy Days of Summer
Member since 10/06 1413 total posts
Name:
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Re: 55/25
I am 23 and 2 years in. I don't plan on staying in NYC so I don't think I will enroll.
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| Posted 5/18/08 9:12 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: 55/25
Posted by beautyq115
I am still very on the fence about this...I started at 27...in 30 yrs I will be 57...Just so confused about this
See, I totally understand what you're saying. Provided I don't take a long time for childcare, I will have almost 30 years by 55. In a way, why should I vest in this. I'm still confused.
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| Posted 5/18/08 9:41 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: 55/25
Posted by MissJones
Posted by beautyq115
I am still very on the fence about this...I started at 27...in 30 yrs I will be 57...Just so confused about this
See, I totally understand what you're saying. Provided I don't take a long time for childcare, I will have almost 30 years by 55. In a way, why should I vest in this. I'm still confused.
Exactly! I will probably take at most 12 weeks FMLA for each child..I could never take more than that and not get paid
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| Posted 5/18/08 9:43 PM |
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mom2tom
LIF Infant
Member since 5/05 135 total posts
Name:
Elisa
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Re: 55/25
One thing is that you could leave NYCDOE after 25 years and freeze everything but collect at 55. I started at 24 and will have my 25 years by 49. I look at it this way ..............if I wanted to leave doe and change careers or go work at public library, I could do it at 49 but not collect till 55. I think I may sign in.
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| Posted 5/19/08 5:32 AM |
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Buttafli1277
LIF Adult
Member since 8/05 2638 total posts
Name:
Jennifer
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Re: 55/25
Posted by MissJones
Posted by beautyq115
I am still very on the fence about this...I started at 27...in 30 yrs I will be 57...Just so confused about this
See, I totally understand what you're saying. Provided I don't take a long time for childcare, I will have almost 30 years by 55. In a way, why should I vest in this. I'm still confused.
I will also have 30 years at 55. I heard that you can retire w/o penalty at 30 yrs. anyway. Do you know if that's true? I'm going to the meeting next wed. for more info.
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| Posted 5/22/08 8:28 PM |
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Candy Girl
Candy girl- you are so sweet!
Member since 11/07 6349 total posts
Name:
erin
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Re: 55/25
Posted by mom2tom
One thing is that you could leave NYCDOE after 25 years and freeze everything but collect at 55. I started at 24 and will have my 25 years by 49. I look at it this way ..............if I wanted to leave doe and change careers or go work at public library, I could do it at 49 but not collect till 55. I think I may sign in.
My thinking exactly. 5 years is a long time...especially when you are thisclose to retiring.
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| Posted 5/23/08 4:50 PM |
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Moehick
Ready for the sun!
Member since 5/05 30339 total posts
Name:
Properly perfect™
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Re: 55/25
I hear that if you retire at 55 and start collecting your pension you incur a penalty that you wouldn't if you waited and collected at 30 years of service.
Any one know if thats right?
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| Posted 5/23/08 9:43 PM |
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Candy Girl
Candy girl- you are so sweet!
Member since 11/07 6349 total posts
Name:
erin
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Re: 55/25
Posted by Moehick
I hear that if you retire at 55 and start collecting your pension you incur a penalty that you wouldn't if you waited and collected at 30 years of service.
Any one know if thats right?
If you buy into 25/55 you can retire after 25 years (whatever age that is) and start collecting a FULL pension at 55 years of age. There is no penalty if you meet those two requirements.
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| Posted 5/25/08 7:50 PM |
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