Transfering retirement beneifits?

[Stardominion]

Sorry if this is the wrong forum!

How does transferring of retirement benefits work when you transfer from one agency to another.

So you start off with the border patrol using a federal retirement and after a few years you decide to change and go into local PD or state patrol or something else (Colorado Highway Patrol in particular uses pera).

Do your years of service transfer to the new agency or do you start over and ultimately have two retirement payouts?

Idealy I would love to get on with an agency, love it and retire with it, but you never know how you'll feel in 5 or 10 years from now!

Thanks!

-Justin

[Unit453]

You should have the option to roll it over into your new policy but that kind of depends on the agency and who's actually paying your benefits. When you move to a new job, HR should go over all of that with you. Also, when you separate, you'll get forms in the mail asking if you want to cash it out or roll it into the new one.

I was federal and went to a county and I opted to cash mine out. I only did that because I really needed the cash to survive, get moved and settled. They will tax it 20% though but you should be able to get some of that back at tax time.