ST Alpha - "Everything I'm getting and reading suggests I can take a lump sum (if I pay taxes +10%)" (Reading a Post)

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In response to "I'm leaving my employer, but have a vested (small) pension with them. Does that change the answer? -- nm" by ty97

Everything I'm getting and reading suggests I can take a lump sum (if I pay taxes +10%)

Posted by ty97 Aug 19 '21, 14:29

I could more than make up for that by putting it in the market I figure

Responses:

Ask your HR rep or a Benefits dept. contact. The rules on this stuff is very specific to the way the plan was designed - there's no stock answer. -- nm - rollo Aug 19, 14:47 1
- Can't really get through right now, will try at some point -- nm - ty97 Aug 19, 14:48
Defined benefit plan? Its probably going to depend on the terms of the plan and also the terms of the spinoff agreement for your company -- nm - decline Aug 19, 14:34 3
- I mean they froze this thing 15-18 years ago and it's only grown at interest rate since then so it's meager - ty97 Aug 19, 14:43 2
  - I had that (profit sharing deposits into a mutual fund) and because the plan was closed there's no 10% penalty, just taxable if not rolled. -- nm* - Max Aug 19, 15:19
  - Best bet is to just call HR and ask - decline Aug 19, 14:50
I think it’s in your pension rules. - spamlet Aug 19, 14:31 1
- We're definitely leaving. - ty97 Aug 19, 14:42

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