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Ask the Hammer: When Am I Eligible For Retirement?

Jeffrey Levine explains the eligibility for retirement and pensions.

In this Ask the Hammer episode, a reader asks this question:

"I am a city employee in Florida, a long-time union member with 25 years of service. But nine years was part-time at 38 hours per week. When I reached full-time status, that's when I could pay into the pension. My question is, can I buy some of the time back just to have my years of service count towards retiring, which is 25 years, that means I could be eligible to retire now?"

Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, met with Robert Powell, editor of Retirement Daily, to answer this question.

Jeffrey and Bob talk about the different types of pensions and their respective rules. They also talk about how being a union employee fits into this.

Watch the full episode to find out the answer to this reader’s questions.

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