Question for anyone whose left the firm: I've been here for 9 years so my pension is fully vested. What happens to it if I leave?

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Ask around about the partner pension plan at Deloitte, ha, you may decide to stick it out for a very long time. But these pensions for rank and file are a nice little perk that we don't really lift a finger for, anyways have a good 4th of July holiday.

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Lump sum payout

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M1, PwC has tiered vesting where you get an additional 20% after each year of service until the 5 year mark where you get everything. Deloitte has 3 year cliff vesting (unless this has changed). EY and KPMG have no pension anymore I believe.

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Think it's just under 30K. I mean it's essentially just free money and basically no one offers a pension these days so I'm not necessarily complaining

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I would recommend not taking the lump sum, you will get around $1,500 - 2k a month in retirement if you let it sit til then,

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Since 2014 it's went from 3 years to 5 years for full vesting, payout not sure on details they changed it last year from a defined pension to way less favorable structure

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Oh wow, interesting, thanks. Ok, so D is paying into this pension for us and after 3 years, the money is fully ours. If we leave, we can get a lump sum, but it will be taxed bc it is meant for retirement or we could let it sit there and collect on it during retirement. I think I'm just trying to figure out whether the pension money adds up to anything material during retirement or if it will just be a small amount that is in addition to everything else?

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It won't be taxed if you roll it into a traditional IRA

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Rollovers don't count against yearly max.

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If I decided to take the lump sum payout tomorrow if I left it would be around $25k, so everyone's situation is different but just a FYI

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From full retirement age til death yes, there are options in terms a beneficiary payments, EY has s tool that offers your projected pension payout. $25k is the lump sum for taking it now if I leave , my lump sum at my retirement age if I choose that option is a lot more, can't remember the figure

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Take the lump sum

How long does it take for your pension to be fully vested across the big 4?

We still have one buts it's totally watered down now. Op what's your lump sum payout looking like after 9 years

OP- let's say you have $30k in pension now and let's assume you stay at Deloitte. What does that translate into in retirement?

EY2 - what is the EY pension structure / vesting structure / payout look like?

Ey still has a pension. But like others mentioned they changed the structure so now it's worth a little less.

Uncle D is three years fully vested. As to whether you take the lump sum when you leave or let it sit and grow as is really depends on how many years you have left till you retire..

What does fully vested mean?

Means you get control of the money D1

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