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Hey Fools!
My wife (48 years old) is about to quit her job with which she has a Pension Plan. The fund managers say that it needs to be rolled over into another pension plan (not a 401K).
WE would like to take it and set it up as an annuity which she could draw on today. We understand there is probably a tax penality.

Is this possible?
What is the tax bite?
What is a good annuity vehicle to set this up in?

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