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My wife's employer converted their defined benefit pension to a "Cash Balance" plan earlier this year. Though we'd like to think we know a thing or two about investing and retirement planning, etc..., we're really baffled as to the in'-and-out's of this new type of pension plan. She now gets a quarterly statement from her employer that shows, in big bold print (of course), a dollar amount that I guess is the "cash balance". What does this "cash balance" really represent?

What happens if she were to leave that employer (not through a retirement, though)? Does she get that dollar amount in a lump sum - almost like a 401k rollover?

As you can probably tell, the information provided by her employer is not helpful. Any web sights out there that may be helpful?

All info. is greatly appreciated.

Thanks

Ken
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