How long will it take for MetLife to buy the pension from Sears? I will be taking all of my pension in July.
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All of my paper work is a go, and I was informed that I can take my full benefits at 100%, you may have more money than me. I was with Sears for over 18 years, started as a full-time associate. I am not the only associate at my store to get the pension. We are getting our pension at 100%. My store closed down in March 2017. I can get my pension at 100%, I have signed the paper work and everything. I am not getting much, but something is better than nothing.
I know people that did this, they took half one calendar year and the other half the following year. Its all according to how well the fund is vested (it has to be over 80%). I also know people who took half and the monthly plan!! Call them and check all your options
I was told that we can only take half of the pension out in a lump sum and must take the other half in a monthly annunity. What makes you think you can take it out 100% at this time?
I am planning on retiring in July and this is what the pension papers I received is saying.
You can also leave it all in and take it as a larger monthly annuity,
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I was hoping to take it out 100% but that is not possible at this time.
Thanks, I am taking all of my pension it is not much, but I am getting it all. Thanks, God Bless
its a pretty seamless process - couple of forms to read thru, make some selections, fill out withholding stuff etc... etc... just go thru normal process - & actually it might be better having Metlife administering it than SHC - so wouldn't get your shorts in a bunch