Wow, I never thought that I would post that one!
My megapharma division was bought out several times during my 23 years. While I was fortunate and survived the buyouts - my pension opportunities were "smashed"--or so I thought. The last pharma company I worked for launched a new HR portal/401K info website. I visited to check on balances etc. and was surprised to see many new options - I hit pension benefit...and was shocked at what I have coming (and alittle ashamed to admit to this group-that I did not know
I will re-read 4 pillars...and.... 4 hail Marys
The company counted my tenture through the last purchase co. hire date and I found a nice little surprise.
My main question- If you take a lump sum - is it rolled over to an IRA or is it taxed? If I can roll it.....I pretty much have decided, but:
Here is the breakdown - would you take the monthly benefit or the lump sum...and when? I did not add age 65 because it seems unlikely to pay off - and I have a good SS payment coming around that time.
I should add that so far - 19 months ER I am on track and pulling around 3% for expenses.
Age 55 age 60
Monthly $799 $1,310
Lump $148,665 $204,231
Thanks in advance,