Is it just retirees who receive a pension lump-sum option. I know many retirees who have been given the notice but no employees yet.
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Did anyone accept the lump sum portion that included a non-taxable portion (clearly states non taxable) that was sent directly to you? I accepted the lump sum and rolled over the taxable portion. The non-taxable portion (from after-tax contributions) was sent as a check to me. Recently, they sent me two 1099-R forms. One indicating a rollover and one indicating the non-taxable portion which they incorrectly indicated as taxable (entire distribution marked for taxable portion). I've been calling them for 2 weeks now to get this resolved. Anyone else have this issue?
I am not retired but a former employee of LM Space. I was offered the lump sum but declined it.
Heya Lockheed folks !
Telecom type here with a question.
I saw an article where Lockheed transferred the annuity side of their pension plan over to Athene. Another article I read looks like you all have to make a decision of going with a lump-sum or the annuity. I was hoping someone could clarify what's going on.
Because . . . .
Your situation sounds a LOT like what AT&T is doing atm. They also just transferred ( earlier this year ) the annuity side of their pension plan over to the same company ( Athene ) and I have a gut feeling they're going to do something stupid soon.
AT&T is heavily in debt and going all out in trying to force their older workforce to voluntarily retire. ( The older folks are the only ones in the pension plan. The younger folks do not get the option. ) My theory is they're going to tell everyone that the lump sum option will be available until X date. After said date, the annuity will then be the only option available.
So, if you want the lump sum, you'll be forced to retire by the aforementioned date.
This frees up AT&T from having to keep the pension plan funded, thus saving $$$$.
I was curious what's going on with your pension plans since it sounds like we're on a very similar course.
I changed jobs deferred my salaried pension and received a notice. I need to fill out form by October 7th