Accounting, Payroll & Pension Issues/pension distribution

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Expert: - 4/30/2008


Question
I plan to work past 70.5 years of age. I have a pension with the company I am working for. Will I be able to draw from my pension after 70.5 even though I haven't stopped working for this company?

Answer
It all depends on the terms of the plan. Some plans allow a participant to begin receiving benefits once he reaches the retirement age. Other plans require the participant to stop working. If your plan delays payment, the amount of the payment will increase to reflect the later starting date.

Accounting, Payroll & Pension Issues

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Allen

Expertise

Pension questions ONLY. Pension, profit sharing, and 401(k) plan design, installation, administration and actuarial services; rollovers to Individual Retirement Accounts; taxation of retirement plan distributions

Experience

Over 35years experience in the pension field

Organizations
Various actuarial organizations

Education/Credentials
MBA and various professional certifications

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