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Author: MitsouR Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79720  
Subject: Question re: 'pension' disbursements Date: 5/13/2003 12:19 PM
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I used to work for MCI and recently got information from them regarding their now-defunct pension plan. Apparently I have a few thousand dollars in there and need to decide what I want done with it. I can take some sort of annuity which will give me something ridiculous like $36 a month after retirement. Or I can have the money disbursed into another retirement vehicle. I think I can have it disbursed into an IRA (not a Roth) or even my 401k.

I don't have a regular IRA currently (though I do have a Roth) and I do have a 401K.

Do you have any suggestions re: what's the best thing to do with this money?

One additional question - I used to work for the state and have gone back to work for the state. When I left originally, I took my 2 years worth of state contribution with me. I think I can buy back that time and may want to do so if it turns out I am working for the state again for enough years to make this worth my while. All contributions are pre-tax. If I roll the pension money into an IRA, can I later move some of it to the state retirement fund to buy back my time?

Thanks for any suggestions!!!!!
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