Results 1 to 7 of 7

Thread: Definied benefit plan

  1. #1
    Registered User
    Join Date
    Dec 2012
    Posts
    117

    Definied benefit plan

    I just recently left a company with this pension plan that we contributed to. The requirements to retire with a full pension were years of service plus age to equal 85. Just wondering if anyone knew if I could withdraw my contributions etc upon my leaving the company?!

  2. #2
    Registered User Lyrical's Avatar
    Join Date
    Dec 2012
    Posts
    1,217
    Quote Originally Posted by Boloboy View Post
    I just recently left a company with this pension plan that we contributed to. The requirements to retire with a full pension were years of service plus age to equal 85. Just wondering if anyone knew if I could withdraw my contributions etc upon my leaving the company?!
    No.

  3. #3
    Fuck Canada
    Join Date
    Dec 2012
    Posts
    331
    Quote Originally Posted by Boloboy View Post
    I just recently left a company with this pension plan that we contributed to. The requirements to retire with a full pension were years of service plus age to equal 85. Just wondering if anyone knew if I could withdraw my contributions etc upon my leaving the company?!
    Yes.

  4. #4
    The guy with the gun BrutulTM's Avatar
    Join Date
    Dec 2012
    Location
    Knowlton, Montana
    Posts
    2,615
    Quote Originally Posted by Boloboy View Post
    I just recently left a company with this pension plan that we contributed to. The requirements to retire with a full pension were years of service plus age to equal 85. Just wondering if anyone knew if I could withdraw my contributions etc upon my leaving the company?!
    Perhaps.

  5. #5
    Registered User
    Join Date
    Dec 2012
    Posts
    280
    Quote Originally Posted by Boloboy View Post
    I just recently left a company with this pension plan that we contributed to. The requirements to retire with a full pension were years of service plus age to equal 85. Just wondering if anyone knew if I could withdraw my contributions etc upon my leaving the company?!
    Just depends on who's advice you take.

  6. #6
    Registered User Unidin's Avatar
    Join Date
    Dec 2012
    Location
    Las Vegas, NV
    Posts
    119
    Get a copy of the plan. Some you can, some you cannot.

  7. #7
    Annoying Old Geezer
    Join Date
    Dec 2012
    Location
    New Eden
    Posts
    20
    The plan document states whether you may or may not. My strongest advice is to leave the money there (unless it is a multi-employer plan). Every single time I have been offered a "buy out" from the crappy little pension I have, I have been offered between 10% and 50% of what it would cost to replace (a single life annuity with the same $ amount). Every person I personally know who took the payout regretted it years later.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •