Given the pension options and salary differences between my current job and an offered job, which scenario is more financially sound?
I’m 50 years old and have 13 years vested at a public agency that offers a PERS pension plan with 2.7 percent at age 55. I’ve been offered a job at another agency for a $15,000 increase in salary, but only a PERS retirement plan with 2 percent at age 60. Which makes more financial sense given the pension and salary options: staying in my current job or switching to the new job?
This is a tough question to answer via chat. But i get what you are looking to get to the bottom of. I have access to retirement planning software and tools where we could model out the different scenarios you are considerring, and get a better understanding of what direction makes the most sense. I would be happy to go over this with you at no-cost, and no-obligation. If you have not already made a decision. To instantly schedule a time please visit: https://calendly.com/jcjones/investopedia
Hope to hear from you!
-Jordan Jones, RFC