After reviewing the information online and calling two different reps in the hr/retirement area, I cannot get an answer to my question. Does anyone know if the old pension plan - like from 2002 - has a lump sum withdrawal option? It seems like that might be a better bet if you are over 60.
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People! You need to be asking your benefits coordinator these questions, not randos on an online bi--h fest forum about layoffs! It is never a good idea to take financial advice from an anonymous shitfest forum like this. Do so at your own risk! You could make a very costly mistake if you listen to most of the bullsh-t answers on here.
@bz So once the old funds are transferred to Cash Balance, you'll be able to do a lump sum withdrawal?
I don't think so. You have many options, like when you start receiving it and how much, if any, gets paid to a spouse after you die.
No. Only cash balance has lump sum