You so know that's retirement money?I worked there 11 years
do you know what date in December it would be nice to have before Christmas lol
yeah.Do you have at least five years in?
If you are under 5 you get nothing because you aren't vestedyeah.
6 pt yrs. My paperwork shows an annual payment of about $12,000 payable at 65 yrs old. Likewise, they're contributing about $9/ hr worked for the annual bump up. It’s going up some $1500/yr for every year worked.
It’s all supplemental with my other income sources. But I do wonder sometimes what my lump sum would look like. I’m thinking $5k-$10k would be their offer to rid me of any future liability. But now I’m wondering if that’s too high.
This lump sum talk is a bit new to me. I didn’t realize they did that. We had a guy who almost quit at 4 yrs 9 months. We told him to stick it out. If anything in 30 years, he’ll have $10k/yr. But he was young. He did stick it out. But He may have taken a smaller lump sum in the mere $2-3k range. You’re almost better forgetting about it forever and see a nice surprise at 65.
I’ll need to do some math. From all my hours worked and see what the lump sum would be. They may be contributing $8-9/hr to the pension but offering you $1-2.
Did you take buyout offerThey never gave a date. but they want us off the books this tax year so it will be before December 31
I’m only 31 I’ll put some into a IRA
Probably useful to determine the net present value of what the monthly pension payment would be starting at age 65 given the average US inflation rate and go from there.
How long has it been ?For a rollover they send you a check written to your finance manager. I don't know anything about payout direct deposit but I'm still waiting for them to review my proof of age before we can proceed.
Almost a week.How long has it been ?
That stuff takes time.Almost a week.
Smart move. You would have probably bought baby dolls anyways....It was tempting to leave out a thousand in cash and buy something nice but I decided against it.
Was there much difference between investing the buyout or staying in?For a rollover they send you a check written to your finance manager. I don't know anything about payout direct deposit but I'm still waiting for them to review my proof of age before we can proceed.
First off, they're not baby dolls. Second, I only buy one, maybe two new ones in a year. And third, with the exception of the asian ball-jointed type (which make up a very small minority of my collection), they don't cost anything remotely close to that much.Smart move. You would have probably bought baby dolls anyways....
With a compound interest calculator I estimated the buyout amount alone to be worth over $200k by the time I'm ready to cash out. If I were to take the monthly installments at 65, I would have to live to over 120 to receive the same amount. And that doesn't even take into consideration the tax on those monthly installments.Was there much difference between investing the buyout or staying in?
I already submitted the documentation in online and It says complete just waiting on the funds to hit my account it should be soon fingers crossedFor a rollover they send you a check written to your finance manager. I don't know anything about payout direct deposit but I'm still waiting for them to review my proof of age before we can proceed.
Are you taking the full amount in cash?I already submitted the documentation in online and It says complete just waiting on the funds to hit my account it should be soon fingers crossed
Are you taking the full amount in cash?