Corporate Pension Question
What is the name of your state? New York state
I am a 40 year-old fully-vested employee in a Fortune 500 Company incorporated in New York State.
I will be leaving at the end of September. My Company's benefits department tells me I need to cash out my pension and "roll it over" into a private IRA. They say that although it is legal to leave my existing balance in the Company plan that if I do so it will not continue to accrue interest after I leave. This sounds like mule-cookies to me. Help!
What is the name of your state? New York state
I am a 40 year-old fully-vested employee in a Fortune 500 Company incorporated in New York State.
I will be leaving at the end of September. My Company's benefits department tells me I need to cash out my pension and "roll it over" into a private IRA. They say that although it is legal to leave my existing balance in the Company plan that if I do so it will not continue to accrue interest after I leave. This sounds like mule-cookies to me. Help!