I have a state pension---should I pull it out?

....I wish you would consider giving a twenty-spot to RP on April 1st....April Fools Day. It's been discussed here

http://www.dailypaul.com/...

Thanks!

"Guard against the impostures of pretended patriotism."

-George Washington

Honestly. I have no doubt in my mind that California would have mass layoffs and shut down vital public services before they reneg on retirement benefits. IMHO the only way you wont get paid is if the state literally dies. We are a long way from that.

Also, if I am not mistaken, arent calpers benefits based on your highest year of pay (adjusted for increases in the range, like military pensions)? If so, I wouldnt worry about inflation. You are going to lag a year or two behind, but not much.

Now if you can identify an opportunity in a real property investment which will give you returns equal to what you would get from CalPers, that is a no brainer, cash it out and go for it. The beauty of RE investments is that they will always earn something, and will recover with the economy.

Wow...Lot's of government workers here tonight. Have y'all seen the light?
Find real jobs folks. Learn a trade or something worhwhile. :)

I think you should, given that the State is never going to pull it out of us!

I am also in california working for local county govt. I looked into this as I have seriously been considering quitting (20+ yrs working there) because that is the only way to pull retirement funds out. I have a retirement pension and a 458. The retirement board said when it is pulled out in lump sum, immediate taxes to federal are 20% and state is 2%. Then at the end of the year your withdrawn funds are considered income for that tax year which you will pay taxes on, but taxes you paid at the time of withdrawl is credited toward your owed taxes. Hope this is explained coherently.
feel free to contact me.

Pray and fast about it.

We know -- almost for certain -- what is coming.

With Commander Fallon gone from CentCom -- an attack by Cheney or another country -- on Iran -- is a given before the November elections.

This will cause massive oil hikes and gas will go through the roof. You can guess what that does to the economy; meltdown.

The initial bombing of Iran is not what they want -- thus they will need another False Flag to make it look like we need to invade Iran. This False Flag would be massive KIAs in Iraq, or another 9-11 (but larger) on our soil.

The real question is -- will they usher in Martial Law and void the Constitution. The more you think about it -- it is hard to believe that these traitors will walk away in January 09. They have too much innocent blood on their hands. They have put many laws on the books to ensure they can stay in power; a real nightmare.

A good show to watch is Jericho on CBS -- you can watch the whole 1st season, and most of the second season on your computer -- money in the bank only goes so far under Martial Law.

Only hope the patriots in the military/NSA and CIA/FBI will stop these guys like they did a few months ago with the socalled "missing nukes" in Minot/Barkesdale. A False Flag that was stopped. Thank you dear Jesus our Lord and Christ! (sincerely spoken actually).

You should make up your mind, then pray and fast over your choice; if it is right, then God will bless you to feel good about it -- if not -- then you will feel it is not the right thing to do.

.. state pensions are invested in mortgage derivatives. Find out if yours is.

Many of the top investment advisers, including ones that advise investment banks and rarely announce advice to the general public, are saying get liquid(dump your stocks) and invest partially in gold/silver.

your best place to save is junk silver it always go up as the fiat dollar goes down.

I work for a local government and, like probably all other state/local employees, am forced - that's all government ever understands is force - to pay into the retirement system. Otherwise, believe me, I would not. I'm too young still to qualify to take it out and, again, because of the FORCE element of it, I can't opt out from putting any further funds into it, any more than I can opt out of Social Security. So yeah, if I could take my retirement out now and put it into gold & silver, I would.

raw lady.... this is what i would do but this is just me.... i would pull it all out. pay the penalty.. buy 1000.00 face bags of 90% US silver coins pre 1964. what you lose on the penalty will be more then made up with the price of silver going up! please read these peoples weekly or daily comments.... jsminset.com Jim sinclairs knows where this thing is headed.. investmentrarities.com download ted butlers 61 page book on silver its FREE.. then you know all the ins and outs about silver... and every week read the mogambo guru.. Richard Doueghrty is a sharp guy too! the you need to make the best decision for you and your family! I look at it this way... stocks are paper worthless... dollars are paper worthless..... bonds and tbills .. paper worthless or all are becoming worthless! those however many bags of silver you have IN YOUR POSESSION..... PRICELESS!!! if you can't touch it .... YOU DON'T OWN IT!

are you diversified in other currencies? can you be?

15-20 years ago. Don't see any reason why that couldn't happen again.

You would have to work out whether or not the numbers make sense. This is a mathematical decision not an emotional one. If, after paying taxes/penalties, you are left with next to nothing???

I would have a tax accountant go over it with you but just know he/she will probably not understand why you would ever even consider pulling your money out. Just stick to your guns and ask them to work out the "bottom line" for you. Only then should you make a decision.

Just one opinion.
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Good luck to us all,

Lisa C.

www.women4ronpaul.com

Well that is a possibility that the dollar will crash and the country could go bankrupt. My suggestion would be put your money in to real worth such as metals gold/silver which has actual value anywhere in the world.

I have 30% of my savings in gold/silver and this year i have made lots of money.

I do not trust the dollar at this point untill i see it climb but if the fed continues to cut rates the dollar will die without a doubt. Better to be safe than sorry.

Dr. Steve Parent