Do I have to pay the 10% early withdrawal penalty if my employer cashed out my pension when they were bought out? Was not given the option to roll because of the $ amount

banks-briand · ‎February 2, 2021

ThomasM125 · ‎February 2, 2021

You will have to pay the penalty, as you could have put the distribution you received into another IRA on your own. You were allowed sixty days to put the funds into another retirement account.

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View solution in original post

ThomasM125 · ‎February 2, 2021

You will have to pay the penalty, as you could have put the distribution you received into another IRA on your own. You were allowed sixty days to put the funds into another retirement account.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Do I have to pay the 10% early withdrawal penalty if my employer cashed out my pension when they were bought out? Was not given the option to roll because of the $ amount