Plans

I recently just started a new job, which does not have the same retirement system that my new job has. Last job was a state job, this job is moreso a governmental agency. So, I have $40,000 in my retirement account from my previous employer and if I take out the funds early, I’ll be faced with a 30% penalty and my years of service will start over (10 years vested). As of right now, my credit score is pretty low 580s and I want to raise it back up from my previous about two years ago (750). I currently have two closed accts and a balance of about 12 thousand on a private loan from school. I’m considering take the money out to pay off my debt because my retirement money does not roll over into my new job.