Originally Posted by
St Exupery
I'm a no on this as well. Quick back of the napkin math says over 25 years the difference between the amount the company is not contributing to the PRAP and instead putting into the MBCBP will be over $700,000. The MBCBP is too conservatively invested for serious growth. I understand the reason for it and it certainly serves a purpose. But this is not the way.
It's a great deal for old farts like me as we can put it all to work at 59.5 by sweeping it in our PRAP but I'm a hard no because of the gives. Forcing me to use my money to fill the PRAP? Um why did we get 17/18% B/C fund when I'm still going to have to put my own max money into it? I'll lose the option of funding the RHA (tax free retirement money) for 2-3 years at least according to the Podcast. The 2024 AHRA money will not be swept in January either which means it's sitting in a money market for 2-3 years earning nothing. At least the RHA made 8.5% this year and is tax free when I pull it. The UPA that we voted in says the company will do it and they even came up with a plan for the people who feel they've overfunded it by maxing the amount of spill to $10k and then it's paid cash. So now they're catering to them even further? The same ones pushing to pad their retirement by 2 more years as WB CAs? Hard pass.