ADP pension ability to roll out of plan?

I had read before I left ADP that pension values less than $5,000 would be distributed to the associate upon departure. Amounts greater than $5,000 appear to be stuck in the plan until you reach a certain age, or at least that is what the plan associate told me on the phone before I quit. Has anyone else been able to get the funds out to another qualified plan before reaching their 50s?

Also, those of you worried about leaving - you're in demand out there. I left on my own accord and I don't regret it thus far. The competition is getting fierce in the HCM market, if you're interested in staying in the industry clean up that resume and get out there.

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No ones pension is guaranteed. Someone mentioned Enron in a previous post well employees of that company lost their pensions when the company went under. Anything can happen that’s why my financial advisor recommends to always take the lump sum as soon as you can and roll it over. BTW it is true you can’t take the ADP pension until you turn 55.

I took the VERP, rolled it into my IRA, NO ISSUE.

That's right, ADP has such a great track record for taking care of their employees. Oh wait, they don't!

That company was not ADP. Criticize all you want, and there is plenty to criticize, but they will play by the book, and not paying out pension obligations is one thing they would never do.

I disagree that this is dribble. I worked for another company for some years (not ADP). They told me that I would get my pension at 55 when I left the company to work for ADP. But when I reached that age I was not able to get it from that first company.

That last comment is why I distrust almost everything posted on this site. What dribble. The money is yours, and will be there when you hit 55, plus interest.

ENRON-the money is held because ADP is using it as financial collateral against the deals they're making. It's no longer YOUR $; its theirs and you can expect not to see it if you left it behind.

I quit a few months ago and was told I'm not able to move those funds until I'm 55.

Yep, I had to leave my pension money in the ADP plan when I quit last year. They did say it was due to the balance being over $5000. S---s because that money better be there when I retire. Supposedly its protected funds if the company goes under. But still...you just never know what drama could unfold down the road. Lol

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ADP pension ability to roll out of plan?

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