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2 days agoThat’s actually a pretty standard public service pension schedule.
Mine had me vesting in 5 years, but the contributions at that point aren’t high enough to mean much. It just means that if if I didn’t make it 5 years the city wouldn’t contribute to my retirement ( I put in 7 and the coty double-matches, so I get 21%). When I hit 5 years, I retroactively got the 14% from the city for my previous 5 years added to my pension. If I had quit before the 5 years, I’d have been given my 7% back as a cash payment after 5 years away from public service.
But I can’t collect until I reach retirement age or have 20 years of service.
athe problem.is the GOP. Texas isn’t nearly as red as people think.
The GOP got total control of the Texas government for the first time ever in the 2002 election. They then spent 2003 dedicating themselves to changing laws and voting districts to make sure they never lost that control.