Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Hi everyone, new to the forum and need advice
Old 09-06-2008, 09:33 PM   #1
Confused about dryer sheets
Join Date: Sep 2008
Posts: 2
Hi everyone, new to the forum and need advice

Hi, I left the powertrain plant in Moraine Ohio in 99 ( a few months before they closed the plant) due to health issues. I only worked there 6 years. I get a yearly statement on what my retirement will be, only 200.00 a month, when I reach that age (Im only 49). My question: Is it possible to take a buy-out on my retirement? I know it wouldn't be much but even a little would help right now. If so, who would I contact? Thanks for any help you can offer.
dove1414 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-07-2008, 12:46 AM   #2
Moderator Emeritus
CuppaJoe's Avatar
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
Welcome, Dove 1414.

You could contact whoever administers the plan. That information should be on your yearly statement. If not, there is a federal pension guarantee agency that could help you.

Yours may (or may not) be like a plan I have. Years ago there was a one time buyout offer which had a very short window. The lump sum offer was about equivalent to one year's payout at age 62. I didn't take the buyout, left the plan as an annuity to start paying at age 62.

BTW, are you collecting social security disability? I've heard it works like any other insurance; they turn you down once or twice before approving it.
CuppaJoe is offline   Reply With Quote
Old 09-07-2008, 10:07 AM   #3
Confused about dryer sheets
Join Date: Sep 2008
Posts: 2
I,m not on SSI or SDI but my husband is totaly disabled. Its hard for me to work because he needs me at home. This damn economy.....the cost of living keeps rising but his income cant keep up. Thanks for the info, I'll look over my statement and call a few numbers.
dove1414 is offline   Reply With Quote
Old 09-07-2008, 10:21 AM   #4
Full time employment: Posting here.
Join Date: Apr 2006
Posts: 944
Also check the statement for a website that you can log into. The web site will have all the info you want
Freed at 49. You only live once - live it
Donzo is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
new to the forum alvarezg Hi, I am... 2 06-08-2008 07:14 PM
New to forum sgmcenroe Hi, I am... 4 04-15-2008 09:45 AM
The ER Forum Status Line -- For When the Forum Goes Down TromboneAl Other topics 4 07-05-2007 10:30 AM
This Forum Is A Living Breathing Growing Life Forum Danny Other topics 25 12-09-2006 04:01 PM
SO, is this a Blue Forum or a Red Forum?? FinanceDude Other topics 7 11-09-2006 06:33 AM

» Quick Links

All times are GMT -6. The time now is 12:23 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.