PERA for county employees of mn

  • duke.harbaugh
    Posts: 207
    March 31, 2014 at 12:35 pm #1357554

    Just got a job offer thru the county. Wondering if anyone on here has experienced the PERA retirement the state offers? I am looking at a substantial pay cut but I think the public employees benefits make up for it in the long run! Thoughts or experiences?

    tomberg
    Rochester,MN.
    Posts: 132
    March 31, 2014 at 12:45 pm #1400656

    I’ve got 10 yrs.to go,but thats one big reason why I took my job…

    riverrookie
    Kasson, MN
    Posts: 228
    March 31, 2014 at 12:52 pm #1400660

    I have 10yrs in on the Police/Fire side and give it a thumbs up…words of caution, what the plan is today is unlikely what it will be for those of us with 10-15yrs left in the work force. You should continue to financial plan above and beyond PERA.

    deertracker
    Posts: 9237
    March 31, 2014 at 12:55 pm #1400663

    I would call PERA directly with any questions. There have been some changes lately. Still a great retirement but the retiring at 120% you may have heard about is on its way out.
    DT

    duke.harbaugh
    Posts: 207
    March 31, 2014 at 1:18 pm #1400667

    Have you seen big/bad changes over the years employed?

    joemama
    North St Paul
    Posts: 392
    March 31, 2014 at 5:21 pm #1400752

    i have..contact PERA and ask away..the current retirement looks very different from mine

    farmboy1
    Mantorville, MN
    Posts: 3668
    April 1, 2014 at 8:12 am #1400916

    Quote:

    Have you seen big/bad changes over the years employed?

    I have been a PERA employee for 2 years and I have seen major changes. They are currently making additional major changes in the next couple years. Still a good deal, but Obamacare and other changes are forcing their hands.

    puddlepounder
    Cove Bay Mille Lacs lake MN
    Posts: 1814
    April 1, 2014 at 8:39 am #1400927

    I have 4 years to go before I can retire without a penalty. I am on the police/fire side, as are a few that have posted ahead of me. I have friends a d relatives that have retired in the last 5 years and have no complaints, the check comes every month without a problem. The only drawback I could see is if you would reach retirement age before you are vested. As far as big changes, yes, are the bad changes, that depends on your personal situation. Mpls police have a good thing going with all the extra security work they do is paid at time and a half a d goes towards their pension. If they work it right, they can retire with 20 years on the job and be 50 years old and still make 80% of their high 5 after the penalty. The overtime change is coming to plug that hole. Overall it is a well run pension fund, that is just my opinion though.

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