To buy or not to buy
I work for a state agency, does anyone know whether or not it is a good idea or not to purchase previous service credit. I am eigible to purchase up to 6 year of previous credit which will cost $23,000.
Without purchase those service credit, I will have 16 years of service credit. With the purchase I will have 22.5 years of service.
I plan to retire at age of 55 which will qualify me for 25 years of service credit if I purchase those years. In addition, I will be able to start withdrawing pension.
Any advice will be greatly appreciated.