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Thinking about early retirement, but have a question
Old 07-03-2010, 12:02 AM   #1
Confused about dryer sheets
Join Date: Jul 2010
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Thinking about early retirement, but have a question

From 1973 to 1984, I worked for a company in Texas. I resigned from that company and hired into a company in Colorado and have been employeed at the company in Colorado since 1984.
Am I able to collect any retirement dollars from the company in Texas when I finally decide to retire?
I'm trying to get all of my ducks lined up before deciding to retire early.

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Old 07-03-2010, 05:34 AM   #2
Recycles dryer sheets
Join Date: Jan 2008
Posts: 364
If you are vested in the Texas company's pension plan, which you probably are for having worked there 9 years, then you should have a pension coming to you. Best thing to do is to contact that company's HR department and get details about the pension: how much it's worth, if it's COLA'd, if you can take a lump sum vs monthly annuity, at what age you can collect it, etc.

(retired 2009, age 48)
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Thanks for responding
Old 07-03-2010, 07:14 PM   #3
Confused about dryer sheets
Join Date: Jul 2010
Posts: 2
Thanks for responding

Joe, thanks for the information. I will call and see what's there.
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Old 07-04-2010, 11:06 AM   #4
Thinks s/he gets paid by the post
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It all depends on the plan from the Texas company. I worked for a company long enough to "vest" a pension there, but the formula to define the benefit was heavily weighted to favor the founders who were the only people there longer than 5 years. A few years after I had moved on to other employment I got a notice that they were ending the plan and would payout the "value" of my account. Based on the number of years until I could collect the pension, the projected value of the pension at that future time, discount for inflation and expected investment results of my account until I was retirement age, I received a check for $38. Pension plans have wide latitude about these kinds of rules, but with 10 or so years in service and 25+ years of investment returns you should verify with them what the value is. Hope you are pleasantly surprised.
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