Guest RMc Posted March 24, 2000 Report Share Posted March 24, 2000 I would like to find out if anyone knows a way to force my former employer to settle my vested pension benefit in a lump sum cash payment. I am 41 years old, have a vested pension with Southwestern Bell Telephone after 18 years of service that I can start drawing on only at age 65. I would like a cash payment option so that I may take control of my pension and invest as I choose. Link to comment Share on other sites More sharing options...
KIP KRAUS Posted March 24, 2000 Report Share Posted March 24, 2000 RMc: There's a lot of us out here in the same boat. Not a thing you can do that I know of, especially if your money is in a defined benefit pension plan, which it sounds like yours is. These plans have the option of doing lump-sum distributions, but don't have to. Most I've seen don't, because it increases the actuarial cost of the plan. Link to comment Share on other sites More sharing options...
Dave Baker Posted March 24, 2000 Report Share Posted March 24, 2000 Do you have a booklet (the "summary plan description") that describes your distributions, and does it include a single-sum payment option? Link to comment Share on other sites More sharing options...
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