§ 32026 Pension System Transfer Rules

• •If you choose to join this system, any money you have in another system will move to this one.
• •The money that moves is what you were owed or had saved in the other system.
• •This rule was added a long time ago, in 1947.

Imagine you have a savings account at Bank A, but you decide to switch to Bank B.

If you choose to join Bank B, all the money you had in Bank A will be moved to Bank B. This way, all your savings are in one place.