Converting FERS to PERS Public Employee Retirement

[FXDL2003]

I posted this in the question forum and am getting nowhere. Can anyone help?

Looking at a career change. Has anyone or knows anyone that converted FERS time into a state Public Employee Retirement? This job is too good to pass up if I can convert my 12.5 years full time and 2 years and 8 months of working a hold down into creditable aervice with the state. As a new hire I would be on a Rule of 90 but at 50 if I can get credit for that time, i can still retire as early as 62

 

[Gotrope]

Federal time don't count towards any state retirement job. Funded by different entities. However, you can roll you pers pension( if able to take a lump sum) into fers down the road. I would strongly suggest you start converting your fers into roth option as taxes allow.

I took my state pension and rolled half into fers, another into a private market retirement acct. Fers is cheaper expense ratio. Also, if you think you will live at least 10 years after retirement, take the actual payments from a person plan. If things look unsettled, consider a cash out so your family doesn't lose the income.
Remember, it's not a taxable income as a rollover to another retirement account. Only if you touch it( like for a set of really good fishing lures...in Croatia ).

 

[FXDL2003]

Federal time don't count towards any state retirement job. Funded by different entities. However, you can roll you pers pension( if able to take a lump sum) into fers down the road. I would strongly suggest you start converting your fers into roth option as taxes allow.

I took my state pension and rolled half into fers, another into a private market retirement acct. Fers is cheaper expense ratio. Also, if you think you will live at least 10 years after retirement, take the actual payments from a person plan. If things look unsettled, consider a cash out so your family doesn't lose the income.
Remember, it's not a taxable income as a rollover to another retirement account. Only if you touch it( like for a set of really good fishing lures...in Croatia ).

My state has a form to submit to buy back the time including any part time hours that are 20 hours per week or more but it is vague at best on the process. State retirement is 1.75% of high 3 with a Rule of 90 instead of 1% or the huge bonus 1.1%. I will keep searching..... meeting tomorrow after work might help with answers

 

[RammerJammer]

Federal time don't count towards any state retirement job. Funded by different entities. However, you can roll you pers pension( if able to take a lump sum) into fers down the road. I would strongly suggest you start converting your fers into roth option as taxes allow.

I took my state pension and rolled half into fers, another into a private market retirement acct. Fers is cheaper expense ratio. Also, if you think you will live at least 10 years after retirement, take the actual payments from a person plan. If things look unsettled, consider a cash out so your family doesn't lose the income.
Remember, it's not a taxable income as a rollover to another retirement account. Only if you touch it( like for a set of really good fishing lures...in Croatia ).

I'm confused especially when you mention the expense ratio. Are you referring to tsp? When you say that you rolled over half of your state pension to fers, did you mean take it as a lump sum & add to tsp or it added to your fers pension annuity?

I only associate fers to the pension that we receive. I know it is a 3 legged stool but I assume you're referring to converting tsp traditional funds to roth and that doesn't have anything to do with the amount of a pension.