Ask Terry Questions Pension, missed 60 day window

Pension, missed 60 day window

By Terry Savage on October 28, 2024 | Financial Planning / Retirement

I recently retired and missed the 60 day window to transfer my pension to an IRA or investment account without paying taxes. What is my best option now?

Terry Says

Your pension — or was it a defined contribution 40l(k) plan?? Please write back with details.
If it was a defined benefit pension plan, contact your plan administrator. You may be stuck with the default election, likely a lifetime monthly check.

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