Re: Pension transfer from PA go down south??
    Posted by: mark on 4/15/16
    () Comments

    On 12/15/14, Summerac77 wrote:
    > I've taught a a Pittsburgh public school for 15 years. My
    fiancÚ and I want
    > to interview down south possibly in North Carolina or
    Virginia or georgia. I
    > thought by making a move Id lose my whole pension. But the
    head our
    > union told me that it is transferable to some stAtes. Does
    anyone know
    > which states pennsylvania transfers to?

    Your pension probably won't transfer. You may be able to buy
    years in the new state, but be advised that this is expensive.
    So, unless you have a fat bank account siting around from
    which you can invest in buying years, you would have to
    request a refund from your PA pension to buy years in the new
    state. That said, you would be really hurting yourself. Most
    likely, it costs way more per year than you have in your PA
    pension. My guess is that you would be able to buy 5 or 6
    years for your 15 year pension.

    You pension wouldn't disappear. You would still be eligible
    for a pension once you retire, but it would be based on 15
    years service.

    That said, the smartest thing to do, pension-wise, is to stay
    in PA.


    Posts on this thread, including this one

  • Pension transfer from PA go down south??, 12/15/14, by Summerac77.
  • Re: Pension transfer from PA go down south??, 7/10/15, by Stay away North Carolina!!!.
  • Re: Pension transfer from PA go down south??, 4/15/16, by mark.