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What Should You Do with Your Company Pension When You Retire?

April 5, 2019

From the U.S. News & World Report website

Figuring out what to do with your company pension when you retire can be quite a bit more complicated than making a plan for your employer-sponsored 401(k) plan.

Retiring workers basically have two choices when deciding what to do with their 401(k): Leave it with the company or roll it over into an individual retirement account. Financial planners generally recommend the latter, if for no other reason than you have many more investment choices in an IRA.

But with a company pension plan, your choices can range from many to none. “Every pension plan is a little bit different from the other,” says Christine Russell, a senior manager of retirement and annuities at TD Ameritrade. “When you can get the money out and how is almost completely up to the plan and how it is structured.”

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