I think a guaranteed 14% return is worth it. Again, a guarantee is only as good as whoever stands behind it. All the laws & state constitutional requirements mean nothing if/when the state has no money.I'd look at it from the "eggs in one basket" viewpoint. You are voluntarily shifting retirement money that's in your name (IRA, etc.) to an account that is not in your name nor under your control.Yeah, 14% is great. Kinda too good to be true. From a risk standpoint, I'd rather have some of my retirement income coming from my own accounts rather than having most of it coming from a pension.A big part of making this decision depends on how much of your retirement income would come from different sources.I'd look at it from the "what if things go terribly wrong" aspect. What would happen if you paid all that money by buying years, but when it came time to collect on the pension, they said, "Sorry, we've had to change the deal."?
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