Is the point of a pension that you can't collect it until you leave the company, or actually retire?
My company stopped contributing in 2008 because crash, so the fund is frozen, and in fact, with recent bankruptcy, transferred to the Pension Guarantee Benefit Corporation, which is a government group.
Anyway, I'm still working there, although you never know when the whole thing will just collapse. Newspapering ain't what it used to be, though we feel surprisingly valued for now.
The fund being frozen means it doesn't matter how many more years I work, I believe. If I start collecting at 55, it's $400-ish a month. If I wait until 65, it's $700-ish. I think I should start collecting as soon as possible, for two reasons: To get on the books, and because I can invest it better than they can.
I have a year and change to figure this out. I just don't know if I have to "retire" or leave the company (those being two separate actions) to collect it.
Pensions question
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Ritterskoop
- Posts: 5879
- Joined: Thu Oct 11, 2007 10:16 pm
- Location: Charlotte, NC
Pensions question
If you fail to pilot your own ship, don't be surprised at what inappropriate port you find yourself docked. - Tom Robbins
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At the moment of commitment, the universe conspires to assist you. - attributed to Johann Wolfgang von Goethe.
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At the moment of commitment, the universe conspires to assist you. - attributed to Johann Wolfgang von Goethe.