Bargained employee rebadged to DIRECTV. Rolled over 401(k) and waiting to cashing out pension. Anyone that has terminated employment and cashed out pension know how long that takes?
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I started the process to roll my pension into a non-Fidelity IRA. I'm told it will take 30 - 45 days after the commencement date. The folks at Fidelity told me it is a tedious process and it doesn't matter if the funds go into a Fidelity IRA or one in another financial institution.
Do it quick, you never know when your time is up. Seen way too many people delay cashing out only to turn right around and die!
@ygb+1cIhhWA3 the majority of DTV employees had a pension pre T merger. After the merger they had 2 pensions. One on T side and the original DTV pension. They where not allowed to touch either until now.. i know of several employees with well over a couple 100k in the DTV pension.
Are you talking about a measley lump sum pension or big money? It makes a big difference.
When I was surplus'd I rolled my pension straight over to a Fidelity IRA, and it took about 4 weeks. Now, Fidelity is the 401k and pension administrator, I believe, I don't know if there would be other delays to a different company. I had met with them at a wealth center and they knew who to engage on both sides to have all the releases and everything over a phone call, which took about 20 min.
How much is your pension payout? Are we talking 750K?
Cashing out pension and paying income taxes while still working? Or better yet - rolling pension into IRA?
Does DTV even provide a pension?