Quote:
Originally Posted by smartDFS
Just curious whether you researched what your specific pension would provide, or if this was more an internet search of "should I accept a pension buyout and rollover to IRA?"
My skepticism (not based on experience with pension buyouts specifically, but more financial industry in general) is around 1) whether they are lowballing you with a buyout offer versus the actual present value of your pension 2) whether internet advice is motivated by selling you affiliate links to rollover IRA companies, while having nothing to gain from you rejecting the buyout offer.
I actually consulted my accountant as well. She advised rolling it into an IRA. After a few text chats with her I felt bad asking additional questions for free: should I pay off my credit card, what institution should I go with, etc.
The option letter was very comprehensive. I also called the support line to ask if, besides tax penalties, there was any other penalties for raking it now and rolling it over and they said no.