{ "media_type": "text", "post_content": "I’m leaving EY shortly and have a vested pension balance. What do I do with it? Is there a way to roll it over somewhere?", "post_id": "61a44c84e39fe200347a544b", "reply_count": 10, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

I’m leaving EY shortly and have a vested pension balance. What do I do with it? Is there a way to roll it over somewhere?

helpful
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They will send you information on rolling it over when you leave

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Great! Thanks!

Yup, roll it over to your IRA without any penalties. I did it, seamless.

helpful

Perfect. Very helpful!

I just kept it. Can’t wait to collect that $1006 every month 17 years from now… 😂

funny

Yeah they offered a lump sum but the discount rate was ridiculous so I’m taking the $1006 and living to 150 years old out of spite ;)

likefunny

Which pension are you talking about? 401(K) is not the pension per se. Are you referring to 1) the cash balance one which you can roll over or 2) the traditional defined benefit plan which you can’t roll over anywhere else although you might have a lump sum payment option?

Yeah for cash balance, you can roll it into an IRA without any penalty and invest at your discretion or leave it at EY and they will continue to credit the stated rate but future contribution from them will stop. I am new to EY and I have only the cash balance type although I think older employees might have the traditional DB plan.

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