Husband1111 and I got letters yesterday saying the company we were both laid off from will be sending us information about a one time option to take a lump sum payment of our pension.
Didn't know this was possible.
The company has been going through some changes so we a curious as to what is going on there.
Any changes in pension laws lately?
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christie1111
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Any changes in pension laws lately?
"A bed without a quilt is like the sky without stars"
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littlebeast13
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Re: Any changes in pension laws lately?
christie1111 wrote:Husband1111 and I got letters yesterday saying the company we were both laid off from will be sending us information about a one time option to take a lump sum payment of our pension.
Didn't know this was possible.
The company has been going through some changes so we a curious as to what is going on there.
I've received several of these lump sum pension options as well..... for someone who used to live here before me. I'm so tempted to take the lump sum payment, but am afraid of being put behind bars....
lb13
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christie1111
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Re: Any changes in pension laws lately?
Interesting.
And are you opening their mail?
And are you opening their mail?
"A bed without a quilt is like the sky without stars"
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themanintheseersuckersuit
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Re: Any changes in pension laws lately?
Is there a bankruptcy?
Suitguy is not bitter.
feels he represents the many educated and rational onlookers who believe that the hysterical denouncement of lay scepticism is both unwarranted and counter-productive
The problem, then, is that such calls do not address an opposition audience so much as they signal virtue. They talk past those who need convincing. They ignore actual facts and counterargument. And they are irreparably smug.
feels he represents the many educated and rational onlookers who believe that the hysterical denouncement of lay scepticism is both unwarranted and counter-productive
The problem, then, is that such calls do not address an opposition audience so much as they signal virtue. They talk past those who need convincing. They ignore actual facts and counterargument. And they are irreparably smug.
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christie1111
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Re: Any changes in pension laws lately?
No, company is still in business and the stock is pretty high.themanintheseersuckersuit wrote:Is there a bankruptcy?
I really have to move my 401K money out of their sock while it is high.
Better do that this weekend.
"A bed without a quilt is like the sky without stars"
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littlebeast13
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Re: Any changes in pension laws lately?
christie1111 wrote:Interesting.
And are you opening their mail?
I keep looking for quilts and canisters....
lb13
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SportsFan68
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Re: Any changes in pension laws lately?
My guess is, they're just trying to eliminate an outstanding obligation. That future obligation probably shows up as a swath of red ink on their financial report. My own situation, I took the lump sum and regretted it at retirement time. Your mileage may vary.
-- In Iroquois society, leaders are encouraged to remember seven generations in the past and consider seven generations in the future when making decisions that affect the people.
-- America would be a better place if leaders would do more long-term thinking. -- Wilma Mankiller
-- America would be a better place if leaders would do more long-term thinking. -- Wilma Mankiller
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Bob Juch
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Re: Any changes in pension laws lately?
You really shouldn't keep your money in a sock.christie1111 wrote:No, company is still in business and the stock is pretty high.themanintheseersuckersuit wrote:Is there a bankruptcy?
I really have to move my 401K money out of their sock while it is high.
Better do that this weekend.
I thought you had to transfer your money from a 401K within a specified time after stopping working for the company that set it up. I could be wrong, I don't have time to look that up.
I may not have gone where I intended to go, but I think I have ended up where I needed to be.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
- Douglas Adams (1952 - 2001)
Si fractum non sit, noli id reficere.
Teach a child to be polite and courteous in the home and, when he grows up, he'll never be able to drive in New Jersey.
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Beebs52
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Re: Any changes in pension laws lately?
If you're talking strictly about 401ks (not pensions) we certainly didn't have to roll over the ones we had (Jeff's from back in the day prior to semi-retirement) at any specific time. I know I can leave mine here after I retire, per HR recently. We will be transferring it, but don't have to.Bob Juch wrote:You really shouldn't keep your money in a sock.christie1111 wrote:No, company is still in business and the stock is pretty high.themanintheseersuckersuit wrote:Is there a bankruptcy?
I really have to move my 401K money out of their sock while it is high.
Better do that this weekend.
I thought you had to transfer your money from a 401K within a specified time after stopping working for the company that set it up. I could be wrong, I don't have time to look that up.
Well, then
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Bob78164
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Re: Any changes in pension laws lately?
Below a certain amount of money, the company has the option to impose that requirement. But if you have enough there, they don't. I still have my 401(k) from my first job as a lawyer, which I left in 1996. --BobBob Juch wrote:You really shouldn't keep your money in a sock.christie1111 wrote:No, company is still in business and the stock is pretty high.themanintheseersuckersuit wrote:Is there a bankruptcy?
I really have to move my 401K money out of their sock while it is high.
Better do that this weekend.
I thought you had to transfer your money from a 401K within a specified time after stopping working for the company that set it up. I could be wrong, I don't have time to look that up.
"Question with boldness even the existence of a God; because, if there be one, he must more approve of the homage of reason than that of blindfolded fear." Thomas Jefferson