DUFUS
Dryer sheet aficionado
- Joined
- Feb 8, 2013
- Messages
- 40
I ER'd in 2013 @ age 50 taking my Megacorp pension as an annuity (payments started immediately). I had the option of taking a lump-sum at that time, but I was comfortable enough, both emotionally and financially I guess , just going the old-school income for life route as I also have healthy 401k and personal savings/investments.
So now, my former employer has announced they will be making a buyout offer to ~50% of the retiree population in 2015.
My first question is, would the fact that I had already technically been given the opportunity when I retired, might preclude me from being offered this upcoming buyout? The lump sum option at retirement was a relatively new development. Those who retired > 5-10 years ago had no choice, the pension was only available as an annuity.
Regardless, IF the buyout offer is made to me and IF I decide it's reasonable, can I roll it into an IRA and IF I so choose at a later date, BUT STILL BEFORE age 59&1/2, transfer it to an immediate annuity without penalty?
I think the answer is yes, provided I purchase the annuity as a "life contingent" (fixed annuitization) payment option, it would be an exception to the early distribution/age 59.5 rule.
So now, my former employer has announced they will be making a buyout offer to ~50% of the retiree population in 2015.
My first question is, would the fact that I had already technically been given the opportunity when I retired, might preclude me from being offered this upcoming buyout? The lump sum option at retirement was a relatively new development. Those who retired > 5-10 years ago had no choice, the pension was only available as an annuity.
Regardless, IF the buyout offer is made to me and IF I decide it's reasonable, can I roll it into an IRA and IF I so choose at a later date, BUT STILL BEFORE age 59&1/2, transfer it to an immediate annuity without penalty?
I think the answer is yes, provided I purchase the annuity as a "life contingent" (fixed annuitization) payment option, it would be an exception to the early distribution/age 59.5 rule.