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|Subject: Re: Retirement planning||Date: 4/8/2013 3:04 PM|
|Author: JLC||Number: 71819 of 76866|
I have a regular portable state retirement plan in Illinois...
What do you mean by portable? And what are your options with this account? Not investment wise, but what can you do with it after you are no longer employed by the state?
My main reason for asking, Illinois and California are among the worst states financially. Not to scare you, but I can easily see a scenario where they default or go bankrupt and who knows what will happen with those retirement plans.
Years ago I was considered a state employe during residency training. Was able to set aside some money through their system. But as soon as I was done, I was able to transfer the money into a private account and out of the states hands. I would look to see if that is an option for you as well.
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