However, after 15 years, I have accrued 6 months sick time and 5 weeks vacation. I can stay with the City in another job and take a 50% pay cut, or I can leave and will get paid for my vacation time. Am I better off to seek a job in the private sector that may pay the same or more – but I will have to start over with sick time and vacation – or am I better to stay on with the City and keep those + my current health benefits, which are good? I can survive on the 50% pay cut, but will suffer in many areas because of it. But can still pay the bills.
Which is the better decision long term? I am vested in the retirement and I am 55 years old. I can draw retirement in 5 years, whether I’m with the City or not.