Any non-trads coming from the Ohio Police and Fire Pension fund?

[FiremedicMike]

I know this is a shot in the dark, but maybe someone out there fits that criteria. When I am done with undergraduate I'll have 14 years in the system. I know you are vested at 15 years and can pull a retirement check once you hit 48. I'm not as much interested in the small monthly check which would be generated, but if working an extra year causes me to be eligible to enroll in the retirement medical benefits once I hit 48 (or whenever I retire from practice) then it would be worth it. Otherwise I will just cash out at 14 years and put that money towards school.

Forgive me if that sounds backwards to some of you, I've never worked in private industry and I frankly have no clue what retirement medical benefits look like other than medicare, which doesn't seem overly appealing.

Thanks

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[PharmaTope]

I know this is a shot in the dark, but maybe someone out there fits that criteria. When I am done with undergraduate I'll have 14 years in the system. I know you are vested at 15 years and can pull a retirement check once you hit 48. I'm not as much interested in the small monthly check which would be generated, but if working an extra year causes me to be eligible to enroll in the retirement medical benefits once I hit 48 (or whenever I retire from practice) then it would be worth it. Otherwise I will just cash out at 14 years and put that money towards school.

Forgive me if that sounds backwards to some of you, I've never worked in private industry and I frankly have no clue what retirement medical benefits look like other than medicare, which doesn't seem overly appealing.

Thanks

hospital retirement packages are not good. if they give you penchant, TAKE THAT AND RUN!!!! id love to get penchant.

 

[ArkansasRanger]

I know this is a shot in the dark, but maybe someone out there fits that criteria. When I am done with undergraduate I'll have 14 years in the system. I know you are vested at 15 years and can pull a retirement check once you hit 48. I'm not as much interested in the small monthly check which would be generated, but if working an extra year causes me to be eligible to enroll in the retirement medical benefits once I hit 48 (or whenever I retire from practice) then it would be worth it. Otherwise I will just cash out at 14 years and put that money towards school.

Forgive me if that sounds backwards to some of you, I've never worked in private industry and I frankly have no clue what retirement medical benefits look like other than medicare, which doesn't seem overly appealing.

Thanks

Hmmm. You only need five years to vest here in Arkansas although after only five years of working your check is going to be rather tiny.

If you only need to work one additional year to receive full medical benefits forever then I say that's a good deal. It'd be ideal if that was your gap year or a deferral year. Either way it'd be good to decompress and perhaps even tell off some of the brass.

 

[Mtnbiker]

Otherwise I will just cash out at 14 years and put that money towards school.

Put in the extra year and get vested in their retirement system. Not only will you get a pension someday (no matter how modest), you've got something of a safety net. You have the option of going back and picking up where you left off, if other career options don't work out as well as you expected.

 

[FiremedicMike]

If stay gets me insurance at retirement, then it's worth it. Otherwise the paltry sum it would get me every month once I turn 48 is not appealing enough for me to not cash out and use the money towards school.

 

[Mtnbiker]

If stay gets me insurance at retirement, then it's worth it. Otherwise the paltry sum it would get me every month once I turn 48 is not appealing enough for me to not cash out and use the money towards school.

Looks like you've got your answer! Good luck

 

[FiremedicMike]

Not really, the question was whether or not I get insurance at 15 years or not.

I guess I'll just call the pension board tomorrow anonymously.

 

[ArkansasRanger]

Not really, the question was whether or not I get insurance at 15 years or not.

I guess I'll just call the pension board tomorrow anonymously.

Oh, I kind of assumed you did. Maybe I misread your OP.

 

[FiremedicMike]

Nah not yet.. OP&F is kind of confusing really.. There's a vesting at 5 years and another at 15, but I think the vesting at 5 years is only in regards to on duty injury. Of course that doesn't make any sense either now that I type that.

You know how it is around the police sub/fire station, rumor mills and second/third hand information.

 

[Simplify]

You know how it is around the police sub/fire station, rumor mills and second/third hand information.

Not too different from SDN!