RI Pension, 401a, 457b questions
So I just got hired by the state of Rhode Island and they have a hybrid benefit plan that has a mandatory pension that deducts 3.75% per pay period, and a mandatory 401a that deducts 5% per pay period and they give 1%.
I have a 401k from my previous job and I'm having trouble deciding if I want to transfer it to the 401a, or open a governmental 457b with the state and transfer it to that.
I've read that even though you can withdraw whenever you want from a 457b, if you transfer in a 401k, then that 401k balance is essentially separated from the 457b balance and still requires you to withdraw after 59 1/2.
Also, I have a Roth IRA that I max each year as well.
First of all, this seems like a crap plan considering they only match 1%.
But secondly, what account do you think I should roll my 401k over to?