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Message: <blockquote data-quote="NC man" data-source="post: 5043295" data-attributes="member: 81695">I’m retiring in Dec,talked to pension people etc. before they sent paperwork they asked me my retire date and what date to commence if different from retire date so you can retire and delay if you want to. When you retire your first check will be the first of the month after your retire date unless you choose to delay. For me I’m out dec 23, first pension check will be Jan 1 by direct deposit.401 at VG will be moved to Rollover IRA at VG also ,if you keep in 401 the feds tax any withdrawal at 20% ,by law. In IRA you can choose how much to with hold when you withdraw any.Another thing I found out is you can move money to IRA before you leave which I am doing,if you leave and don’t move it before then you have to wait 45 days to do so . I  don’t know why but guess another move by our politicians.</blockquote>