When you leave your job, should you be cashing out your pension or leaving it to provide you income at retirement?
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I have a question, I worked four years for the city where I’m from can I cash out or I lose what ever the city deducted from me ????
Thanks for this video.
Does a company have the ability to just decide not to pay out pensions?
Thank you very much for that information.
I'm in DESPERATE need to pull everything regardless of the penalties from VRS. IM 46 and if I don't, well let's say I must. My question is have they changed a person's ability to pull out early? I have 21 years invested. My future RELIES on this. I have a VALIC retirement I e put into for near 20 years. I took a loan because I wasn't able to pull out early. The fact I couldn't with VALIC has me worried I will be out of luck with pulling from VRS. The stress of worrying i won't be aloud to cash out is killing me. Any help would be greatly appreciated. God I wish I had business sense.
Pensions are a frigin scam, ya sure your employer doubles the amount but your monthly payment is stretched over a period more than likely you wont be alive and here in Canada you can only get 7% a year, Im paying 425 this month and my monthly payment estimator is 304 a month, I can guarentee now with this covid scam there are gonna screw you too if you dont take the jab because they will say you are more of a risk as they have already taken my job, I want my damn money to invest or go broke with on my accord not the govt! 800 combined effort gives me 304$ a month, oh boy sign me up NOT!!!!!
Big mistake! Mine was small, 27k. I decided to reinvest it in crypto markets, I made a short gain, then everything went to crap with the market crash. I then got scammed by a crypto giveaway, lost more money. I threw away about 5k on a ebike with its accessories and it got stolen! Now, 6 months later, have little to nothing left! Don't cash out your retirement!
That company owns that pension money, if you cash it out and roll it into a 401k or an IRA, now that money is in “Your Name” it belongs to you.
Hello,
So my dad's company got a "Lump Sum Pension Offer" to their employees because the company about to shut down in 2016. The deadline was Nov. 2016 to submit the forms that they offered.
There were 3 options for him to choose from:
1- Elect to receive a single lump-sum payment
2- elect to start monthly benefit payment
3- wait until later to begin receiving your pension
At that time, he chooses option 3 and does nothing.
Now 2021, he wants to rollover that pension $ to a Roth IRA or take the lump sum. Is it too late for that? If not, where was that pension $ go? because the company he worked not exist anymore so was the phone # for help assistance. Who do I contact to get help with this situation?
Thanks for your help
Can I cash my FACA during Covid 19?
Let go after 27 years of service. I'm 50. Need to borrow a portion from pension, is that allowed? I am considered 'vested' at my job but THEY let me go. I requested this already and await their determination. (Determination? Isn't it MY money and THEY let ME go?)
that's all i needed to hear bro
im leaving the union is it possible for me to cash out my pension from the union
If I retire at 40 can I take the monthly pension distributions without an early withdraw penalty?
What if you are fired from a job?