For someone approaching 40, what retirement plan of the 2 PSU offers does everyone like? Positives and negatives of each?
Any Penn State employees?
- Thread starter PennStateTurf2002
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TIAA-CREF or SERS. Essentially the TIAA-CREF is nothing more than a 401(k) with 5% mandatory minimum of gross salary and a little better and 9% match by PS of your total salary. SERS is a essentially pension plan. The question is: will you spend the rest of your career at PS? If so, look at SERS. If not certain, stick with the TIAA.
Richard gave you good advice...
A few other things to consider. PA needs to do pension reform on SERS and PSERS. Whether there is the political will to do so and what the solution turns out to be, remains to be seen. It almost certainly will include a reduction of future benefits if it happens.
To make TIAA-CREF worthwhile, you need to be heavily vested in equities. If you are risk adverse, this might not be the right path for you.
A few other things to consider. PA needs to do pension reform on SERS and PSERS. Whether there is the political will to do so and what the solution turns out to be, remains to be seen. It almost certainly will include a reduction of future benefits if it happens.
To make TIAA-CREF worthwhile, you need to be heavily vested in equities. If you are risk adverse, this might not be the right path for you.
