I have a pension fund and need access to it?
Question by ?preguntarespuesta?: I have a pension fund and need access to it?
I have thousands of dollars in a pension fund and left that employer recently. I am now in financial hardship and that is the only money I have. How do I get it?! Theres got to be a way!
Best answer:
Answer by dm_dragons
You should be able to contact that company’s human resources department and make arrangements to “cash out” your pension plan for a set dollar amount.
You will lose a tremendous amount of the future benefit, but if you need it, then you need it, right?
What do you think? Answer below!
Evaluating the Financial Performance of Pension Funds (Directions in Development)
- ISBN13: 9780821381595
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Countries throughout the world are increasingly relying on individual pension savings accounts to provide income replacement in old age for their citizens. Although these have now been in place for several decades, the metrics for the measurement of their performance has not always meaningful from the perspective the long term objectives of pension funds. The recent financial crisis has highlighted the need to establish meaningful performance measures that consider pension funds in relation to the ability to effectively provide income replacement at retirement age. The book discusses the theoretical basis and a number of implementation issues related to the emerging view that at meaningful evaluation of the investment performance of pension funds requires the design of life-cycle benchmarks against which performance can be evaluated. The composition of these benchmarks would depend on a number of factors, including the presence of other sources of retirement income; the age of indiv
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Robbing your retirement to pay for today’s shortcomings? Not a good idea!
If the pension plan you speak of is a 401K
1) You will pay taxes on your money.
2) You will pay a penalty for early withdrawal (unless you’re 59 1/2)
3) You will be cashing in stocks or stock mutual funds at a bottom.
Just a really bad idea. You sure you want to do this?