This is why all of the 30+ lifers are bailing before 11/30.
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rrd- There should be no charge for the rollover. If you invest it (which in most cases you should) there will be fees associated with the investment. If you are new to investing outside of your 401k, sign up for a class or two at your local library, community center or somewhere else where it’s offered to the public. It’s important to understand your choices & the fees typically associated with different kinds of investments so that you aren’t led astray by an unethical or poorly trained advisor.
There was both an internal email and an external letter sent to layoffees (did I just make up a word?) that discussed the PPA rate change on pension amounts for 2019, and advising people to terminate by 11/30 if they wanted to take advantage of 2018 rates. There was also a disclaimer statement in the letter, as zvc indicates, that Xerox can change the timing any time they want (currently, August rates are used to set the next year's rates used in the RIGP calculation). A link to the rates is shown below.
https://www.irs.gov/retirement-plans/minimum-present-value-segment-rates
Feeling left out-what letter?
I used Rollover Central to do the same, but it is still in process. Was there a charge from the receiving end? The company where you have your retirement IRA?
I don’t know for sure if the language about potential changes to the calculation is legally required so I may be off base. But my take on the letter was that Xrx is looking at changing the timing for the interest rate updates. Obviously, in a way that would be more favorable to Xrx. Since I was IRIF’d, I chose to pull my money out rather than worry about the scheming. If you pull it out just make sure to roll it directly to an IRA rather than taking it & depositing it yourself. Minimizes the paperwork & of course there are penalties if it doesn’t go into a retirement account unless you are old enough to withdraw. In which case it’s income.