Reply to thread

Message

<blockquote data-quote="NC man" data-source="post: 4578194" data-attributes="member: 81695">talked to retirement this morn, it was mentioned ,in this thread, you can delay taking your traditional pension and get more money each year you delay. This is not true. Once you retire they will ask you to decide how you want your TPB&nbsp; , 100% to you til death, or 50 75&nbsp; 100% etc to spouse upon your death in which case the monthly pension amount will differ. There is also the soc sec leveling option, if chosen the spouse must agree because once you die the pension payment ends if the spouse is still living. At FRA (full retirement age) the amount drops since you are taking SS&nbsp; and again if you die before your spouse that lower payment stops. For me SS leveling at 62 is about 2700 month, then at 67 would drop to 660 and SS would be around 2500 month according to SS website. Your PPA can be taken in lump sum and moved to rollover IRA to avoid the tax hit you would have if sent directly to you, you can of course take as monthly payment also. My ppa at 62 is about 98k so I will definitely set up&nbsp; a rollover IRA and have sent to that account to avoid taxes on lump sum. O friend course when you take money out it will be taxable.</blockquote>

[QUOTE="NC man, post: 4578194, member: 81695"] talked to retirement this morn, it was mentioned ,in this thread, you can delay taking your traditional pension and get more money each year you delay. This is not true. Once you retire they will ask you to decide how you want your TPB , 100% to you til death, or 50 75 100% etc to spouse upon your death in which case the monthly pension amount will differ. There is also the soc sec leveling option, if chosen the spouse must agree because once you die the pension payment ends if the spouse is still living. At FRA (full retirement age) the amount drops since you are taking SS and again if you die before your spouse that lower payment stops. For me SS leveling at 62 is about 2700 month, then at 67 would drop to 660 and SS would be around 2500 month according to SS website. Your PPA can be taken in lump sum and moved to rollover IRA to avoid the tax hit you would have if sent directly to you, you can of course take as monthly payment also. My ppa at 62 is about 98k so I will definitely set up a rollover IRA and have sent to that account to avoid taxes on lump sum. O friend course when you take money out it will be taxable. [/QUOTE]

Verification