Request your pension cash-out sooner rather than later

I VERPed (and am so glad I did) several years back. Recently, my financial advisor recommended I cash out of the ADP pension plan, which I've yet to touch, in favor of investing the funds elsewhere.

If you're needing that money, make sure you request it ASAP. Turns out the plan administrator's deal with ADP is to cut checks only once a month, towards the end of the month, and if you miss the cutoff date, they're going to sit on your money for up to another month before they get around to mailing a check.

All in all, it's going to take me 5-6 weeks to get my own money.

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I was told by HR that I could not touch those funds for a rollover when I left ADP years ago (non-verp and under retirement age). Is this an opportunity for those non-Verp and less than retirement age people? Thanks for the post as I can't wait to get my funds from that pension plan.

I VERPed the other day and it tasted like chili.

Agreed with post. Also a VERP. My expected ADP pension payments were considerably lower than what I could get by investing privately. However, do your homework. The amount of risk you are comfortable with is important. Talk with a trusted financial advisor.

VERPed also. At that time cashed out both 401k & pension. Did not want any money with ADP. Rolled both over to new accounts. Checks were cut to the new financial institutions. All done at time of my last day. Take your funds out of ADP —- roll them into something new.

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Request your pension cash-out sooner rather than later

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