For jcp associates who qualify for the pension, has anyone hear whats going to happen with that?
11 replies (most recent on top)
You can take out your pension as a lump sum. You do not have to retire. If you roll it over into an IRA, you do not pay any taxes on it. You can do this whether you are 65 or 55. I called and did all of this over the phone on January 12. My lump sum should be received by my financial planner within the next two weeks.
From my understanding you can take the pension now regardless of your age to do as you wish with it. No need to wait. Either take a lump sum or rollover to another account. It is advised to call powerline for more information.
I got an email yesterday from Jcpenney pension plan. It basically said that effective 12-31-20 I am no longer employed by Jcpenney. Stated I can take my pension but not required to do so. I am confused. We were told are pension would now be handled by PBG since the new owners werent going to take it over. I am still working for JcPenney (the new JcpenneyOPCO. Are they saying I can take my pension now and still keep working? I understood even though I could take it based on my age that I still had to wait until I left the company,
Is there a time frame because i tried speaking with someone and they were very rude and didnt give me much information and just hung up on me, and the wait time is very long.
You can get it now,or roll it over.
Yes what the results are about the pension in whether it will be paid out as a lump sum or if its payments. I never got a chance to do the survey.
The results or what they plan to do?
We took a survey.It was one question.Do you want to take the lump sum payout or keep it in where it is now when they frozen?The results are going to be made by mid febuary.
I have heard nothing about a survey. I have worked for JCP for 12 years now. I believe those of us who are full time will go to part time and will loose all benefits available to FT employees. I am also thinking years credited for service will be history.
What was in the survey?
Didn’t get 1.
One of my coworkers took the survey but i also didn't get an email to take it. Maybe it was at random on who could take the survey. Maybe soon we'll find out what's going to happen🤞
Haven’t heard anything. They sent out that survey but I didn’t get a email to take it.