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Accounting, Payroll & Pension Issues/Timing of pension payouts?
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Question
Once a person retires and has submitted their pension election choice to their company, how long is a company allowed to hold onto the money before they send it to the retiree?
The answer under most circumstances is payments should commence "as soon as administratively feasible".
If you feel they are taking too long, you can contact the local office of the U.S. Dept. of Labor - Employee Benefits Security Administration. They may be able to help you.
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Accounting, Payroll & Pension Issues
Answers by Expert:
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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