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Author: rainphakir 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 75642  
Subject: Re: defined benefit pension plan Date: 11/22/2012 3:02 PM
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To add to Paul's reply, you say there is a 'big time crunch' but you do not say what the deadlines are.

You don't really have the luxury of TIME - posting on the discussion, waiting for replies, learning/thinking about the advice, answering questions and getting further advice, etc. Time is not your friend in this instance.

You may need to IMMEDIATELY get a lawyer who can write a 'letter of intent' with respect to your choices. This MAY delay the time crunch until such time as you can formulate a plan. Or, it may not... that is why you need a lawyer.

Because you are under the time crunch, it sounds like you need immediate help with the financial information. It might be useful for you to go to a FEE ONLY financial adviser.

Your first question to the adviser is 'how does s/he get paid?'. If the answer is 'a percentage', then RUN away.

If the answer is ' $X/hour' then use this adviser. Ideally you want someone who will advise you for a few hundred dollars.

You need someone who can immediately sit down with you, review your paperwork, and in an hour or so, understand your situation and formulate a plan for you. Then be able to guide you on an as needed basis.

If you know of other folks who've been through this process with your company, call them, ask them to describe
- their experience,
- the obstacles they faced,
- what they would do differently if they had to do it again.
- any other advice they might have for you.

I wish you well.
ralph
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