Hi Everyone New User

[HaMM3R]

Hi Everyone

I am a new user and was lucky enough to find this forum

I am currently employed at a small Mom and Pop shop, I had however worked at Sikorsky when it was in the UTC umbrella for 33 years with 1 year broken at different UTC company, Just recently I realized I had 2 pensions there 1 from UTC that shows a 1344.00/mo Balance as of February 2021, and with early commencement on this as Feb 2019 so I am under the impression being 58 now I can access that albeit reduced benefit,I dont know if there is a buyout on that portion There is also A Sikorsky pension, does anybody have any insight as to how I should proceed? I called the Raytheon UTC Benefit Center and asked for calculations to be sent to me but that was 3 weeks ago and thus far no correspondence from them

 

[W2R]

Hi Everyone

I am a new user and was lucky enough to find this forum

I am currently employed at a small Mom and Pop shop, I had however worked at Sikorsky when it was in the UTC umbrella for 33 years with 1 year broken at different UTC company, Just recently I realized I had 2 pensions there 1 from UTC that shows a 1344.00/mo Balance as of February 2021, and with early commencement on this as Feb 2019 so I am under the impression being 58 now I can access that albeit reduced benefit,I dont know if there is a buyout on that portion There is also A Sikorsky pension, does anybody have any insight as to how I should proceed? I called the Raytheon UTC Benefit Center and asked for calculations to be sent to me but that was 3 weeks ago and thus far no correspondence from them

Hi, and welcome to the Early Retirement Forum.

I don't really know how you should proceed. Maybe somebody else does and will post on this thread? Anyway, just wanted to say hi and welcome.

 

[ImThinkin2019]

Hi Everyone

I am a new user and was lucky enough to find this forum

I am currently employed at a small Mom and Pop shop, I had however worked at Sikorsky when it was in the UTC umbrella for 33 years with 1 year broken at different UTC company, Just recently I realized I had 2 pensions there 1 from UTC that shows a 1344.00/mo Balance as of February 2021, and with early commencement on this as Feb 2019 so I am under the impression being 58 now I can access that albeit reduced benefit,I dont know if there is a buyout on that portion There is also A Sikorsky pension, does anybody have any insight as to how I should proceed? I called the Raytheon UTC Benefit Center and asked for calculations to be sent to me but that was 3 weeks ago and thus far no correspondence from them

Hi Hamm3R and welcome!

My wife and I worked for UTC some years ago so we both have UTC pensions. Several times we have receieved a mailing from the Pension center asking us if we want to take a lump sum payment.

In our case, when we do the math comparing whether we're better off taking the lump sum or the actual pension, we have always concluded it's better to take the pension. So we've never taken the lump sum. We're happy having UTC bear the investment risk rather than us.

We used a Net Present Value calculator to do this.

Our case may be different from yours so I suggest you do the math and decide for yourself.

We worked for a small division of Pratt & Whitney. Our SIL works for Sikorsky now. Small world!

For a long time we thought UTC benefits were really good. I don't know how they are now but they were very generous when we worked there.

 

[Bigdawg]

Welcome Hammer. I would go here https://raytheon.benefitcenter.com/...SM--https-:-/-/raytheon-.benefitcenter-.com-/
and set up an account.