My sister-in-law finally got the real story on her pension issue. Apparently, the first person to "explain" it to her did a poor job of it.
The way it all shook out, she had retirement credits well in excess of what would be required for a full pension. The only thing is that she couldn't start collecting until her 55th birthday. With her severence package, she will be only 17 days short of her 55th, at which point she will be able to start collecting her pension. Her new reaction is, " Cool! I can move up my plans!"
I figured that it was only fair to absolve Disney of the blame for lifting a pension! Y'all can go ahead and by Disney stuff again. :-)
Replies (11)Latest
That's good news.
Glad to hear the good news
I knew Disney was good people.
Except that frickin' mouse. That dude is concentrated evil. He's like the anti-Christ in mouse form.
And no 10% early distribution penalty if she waits til she's 65.
Magicrat: 10% early distribution penalty is not applicable in a qualified pension situation. The penalty is applicable in 401K distributions before age 59.5 and in other tax deferred savings plans up to and including age 65.
AtacDawg: Good for your SIL and thanks for the clarification.
Congrats – happy days are here again!!!
"happy days are here again!!!"
Yep, unless Disney's lawyers find our what ATACdawg posted about them here and file a defamation suit!
Gosh, Steve, why do you think I promptly posted this update?
Good thinking, don't mess with the Mouse!
rockie, Sorry I meant 55 if terminated
Good news, Dawg!
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