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found a small pension
Old 07-22-2013, 09:31 AM   #1
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found a small pension

DW's company stopped pension benefits a number of years ago. She never thought about it much until last week, I asked her to call and check.

Turns out if she retires next year, she can still get about $150 each month, or $28,000 lump sum. Nice to have a little found money. We may just take the lump sum and go on a few trips after retirement.
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Old 07-22-2013, 10:24 AM   #2
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nice surprise indeed
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Old 07-22-2013, 10:30 AM   #3
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What a nice surprise. Hope you enjoy your trips with the found money.
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Old 07-22-2013, 11:20 AM   #4
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Sweet!
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Old 07-22-2013, 11:47 AM   #5
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Don't forget if you take the lump sum the employer is going to withhold 20% for taxes, or $5600.
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Old 07-22-2013, 12:17 PM   #6
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Originally Posted by fh2000 View Post
Turns out if she retires next year, she can still get about $150 each month, or $28,000 lump sum. Nice to have a little found money.
What a wonderful surprise! Sounds like today has been a very nice day for the fh2000 household.
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Old 07-22-2013, 01:14 PM   #7
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That is soo nice! You can invest if you want or if there is something she/you have been wanting for a long time this could your opportunity.
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Old 07-22-2013, 01:59 PM   #8
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Sweeeet!!
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Old 07-22-2013, 03:59 PM   #9
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Don't forget if you take the lump sum the employer is going to withhold 20% for taxes, or $5600.
Not necessarily. It's likely the lump sum pension can be rolled into an IRA. Taxes will still have to be paid eventually, but maybe the money can be left there and some after tax dollars can pay for the trips.

Personally, I'd take the pension. $150/month will pay for a couple of nice dinners out each month. And in 10 -15 years it will still probably buy a couple of six-packs of decent beer.
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