I was employed 25 years by New York State. I was there a long time before my girl friend told me to get into Deferred Compensation. Sad to say, I DID sign up and had so much taken out of my paycheck. Every time I received a raise, the money contributed would go up.
The DOWN side is that I started it way too late! I WISH I had known about it, because I could have REALLY saved a lot more money.
I did not retire per se' I left a few years BEFORE retirement.
I signed up for STABLE fund because of the Ponzi schemes and others going on. THANK GOD, for when that hit a relative lost over $300,000 because of it. I did not lose a dime.
Since I quit my job I have not contributed to the plan but it continues to earn some interest.
I did not have a lot in the savings, but it was enough for my daughter and I to take a trip to London and Paris. For that I am thankful.
I have just enough left in that account to maybe take one more trip.
To those who work for the State, there may be a Deferred Compensation plan. I HIGHLY suggest you sign up for it. Thanks for this question. Blessings, Sparklea :)