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Message
Question about pension
Posted on 7/5/12 at 9:40 pm
Posted on 7/5/12 at 9:40 pm
I'm thinking about leaving my job and have 6 years in to our pension plan and I still need to check with office but does it sound right what some co workers are telling me That if I cash out before 12 years I only get 1/3 of what was put in? Some info I found says I should get 2/3... But from what I hear it's only a 1/3... Oh great money board I needs some info! Thanks!
2
Posted on 7/5/12 at 10:01 pm to Icceytiger
quote:
Oh great money board I needs some info!
It's pretty unlikely that anyone here has a clue what your pension plan terms are. You need to sit down with HR.
Posted on 7/5/12 at 10:25 pm to Icceytiger
quote:
6 years in to our pension plan
quote:
That if I cash out before 12 years I only get 1/3 of what was put in?
Is it a defined benefit or defined contribution? That would be a great question to have the answer to before making a decision.
Posted on 7/6/12 at 12:21 am to StrangeBrew
Anything other than Defined Contribution is rare these days.
He just needs to check a vesting schedule...
He just needs to check a vesting schedule...
Posted on 7/6/12 at 8:54 am to foshizzle
quote:
It's pretty unlikely that anyone here has a clue what your pension plan terms are. You need to sit down with HR.
This is the correct answer.
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