I got laid off from Deloitte back in May. I’m wondering if it’s possible to get the balance from the pension now rather than wait until I’m retiring. I’ve got about $13500 in there, if I wait until minimum retirement age it said I’ll get $262/month.

Curious if anyone has done this and also if it’s even possible to get the lump sum now

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Posting as :
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If you’re vested you can do a lump sum but you’ll pay penalty and taxes

like

Roll it over to 401K that’s another option

like

I rolled it over to an IRA, no tax penalty and now I choose what it’s invested in (aka can beat the 3% it would gain staying in the pension)

It’s buried in the fine print. If you call the benefits center, they can talk you through it! You end up mailing them some info (if married, your spouse has to also agree) and then they transfer at the next available window

Is it the cash balance plan? I have that and can’t get it until 62.

I’m going to have to look into that. I thought I’d be getting a very small check every month.

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