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Level 2
April 2, 2021
Solved

Pension Plan

  • April 2, 2021
  • 1 reply
  • 8 views

TT asks what did you do with the money received from a pension.

1)  I moved it to another retirement account (or returned it to the same retirement account).

2)  Did I do something else with it (cashed out, etc).

I don't know how to answer this. I didn't cash any money out.  All the money stayed where it was and I received a monthly payment.

    Best answer by VolvoGirl

    That is cash.  It only wants to know if you rolled it over to another pension plan or IRA, etc.  If you didn't do the first choice and roll it over then you did the second choice.  But I don't think you should be getting that question for a pension since you can't roll it over in the first place.  

    1 reply

    VolvoGirl
    Level 15
    April 2, 2021

    You got a check each month?  That is something else, you got the cash each month.    

    Level 2
    April 2, 2021

    Hi VolvoGirl,

    I get a check every month.

    VolvoGirl
    VolvoGirlAnswer
    Level 15
    April 2, 2021

    That is cash.  It only wants to know if you rolled it over to another pension plan or IRA, etc.  If you didn't do the first choice and roll it over then you did the second choice.  But I don't think you should be getting that question for a pension since you can't roll it over in the first place.