What should I do with my pension from a former employer?

I am 54 years old and I'm contributing to a company 401(k) plan currently. A former employer has offered me a limited amount of time to pay out or roll over a pension benefit to vested participants. I have only $18,000 in the account. I could keep it in their plan to begin payments at 65 or roll it over in an IRA. Would the Roth IRA or a regular IRA be more beneficial?

Pensions, IRAs
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October 2017
25% of people found this answer helpful

It reads like your pension is a defined benefit pension plan, and at the low levels of interest rates we are currently experiencing, it may be a good opportunity for you.  It could simplify your financial affairs a little, and even though the $18,000 is a relatively small amount, which translates into a modest amount of monthly income, there are many things to consider.

 

October 2017
October 2017
October 2017
October 2017