[CAUT] Retirement pay-ins - private

[Willem Blees]

Isael

I had three options to get my money back. One is to leave it in the Alabama Retirement System until I turned 66, and get back only the money I paid in. The second option?was to take the money in a lump sum, and pay a 5% penalty for early withdrawal.?The third option way was to transfer the all the funds plus interest into a IRA type account.?Obviously I had my son take advantage of the third option. 


Wim


-----Original Message-----
From: Israel Stein <custos3 at comcast.net>
To: caut at ptg.org
Sent: Sun, 15 Jun 2008 5:44 am
Subject: [CAUT] Retirement pay-ins - private





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>And the last thing is the retirement. I didn't make it, but at UA, they took 3% 
of my salary for retirement, If I had stayed
>with them for 10 years, the state would have doubled that. That's $1500 per 
year taken out, with a return of twice that
>when I retire.

Wim,

Did you ever check into getting the money you paid in back? I believe that if 
you paid into a retirement plan and did not get vested, you may be entitled to a 
lump sum payout of the the money paid in and possibly interest. I am not sure 
about that, but it might be worth checking out... I know that that's the deal at 
San Francisco State where I work... 

Israel 

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