> Pension plan ira not allowed?

Pension plan ira not allowed?

Posted at: 2015-07-28 
I have the same employer and have not left it nor am i 65. My employer was managed under a company "smith". "Smith was no longer managing as our company hired " tompkins. We have a pension plan with "smith" "smith says they wont release it until we quit our job or turn 65. So its just basically floating out there. Can i force them to put it into my 401k i have now with " tompkins"?

It depends on how the pension plan is setup. But a pension plan is just that―payments to you once you turn a certain age. Some pensions have a lump sum buyout option you may be able to take. Others do not. Best bet is to read the legal docs associated with the plan.

you are confusing a pension with a 401k. smith trustee will retain the pension until you turn 65 when you are eligible for the pension on the terms originally set by smith

A pension is guaranteed retirement income. Of course it won't be available to you until you retire, just like your 401K. Think of it this way, you'll be getting a check from each one during your retirement!

If it is a pension then they can hold on to it until you are 65 -- they are NOT required to roll it over to your 401K

No, you cannot "force" it.

no