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Spoke to HR regarding pension transfer idea

September 22nd, 2006 at 04:33 pm

Spoke to our Pension person in HR today and asked about if we can put money from other pension plans into our plan. She confirmed that yes our plan allowed that. This is very unusual as these are Defined Benfit plans and not the normal Defined contribution plan that most employers offer these days. All I need is the pension statement that I got from the old employer when I left their employment.

Once I bring the paper in she'll send it to the actuaries or whoever calculates what that money, if transfered, would buy as past service in our pension plan. And the quote is no obligation *whew*. The biggest bonus with this is my boss is an actuary and I can go to him once I get the numbers for advice (its not like my salary information isn't something he knows).

I found one of the statements. I left this company in the late 90's. The pension will pay about $500 a month when I turn 65. Dang - that's actually real money.

I haven't found the other one but I'll keep looking. I think as I do that my paper shredder may get a good workout. A rental agreement on a place I haven't lived in in 10 years is hardly a peace of paper that is needed in my life. I'm sure I'll find more gems than that though

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