Now the University is offering us the chance to change from private retirement plans to the state system. I have never been on the state system, although if I had gotten in when I originally came it would have been advantageous, because it is not portable and I have never planned to stay. And rules for vesting in it have tightened since – most recently, I heard that someone who signed up today could only retire at full salary after 50 years of service.
I have not yet discovered what the particulars of the switch would be for my case, and I am loath to change to a system that is not portable and which, when last I checked, did not have a good option for cashing out, but I am wondering. Are other Louisiana faculty on TIAA-CREF considering switching to the state, given what is happening to the markets? What do you think?