I no longer work at 3M, so have the opportunity to lump sum rollover the pension to an IRA. Given all the uncertainty of 3M, wondering if others have done this or what your thoughts are on the topic?
7 replies (most recent on top)
I know multiple people doing so. Let it ride at ur own risk!
Absolutely. Money in hand is an awesome thing.
Keep rollin', rollin', rollin', rollin'....................Limp Bizkit
You have to take the lump sum. With higher rates and a good strategy you can ALMOST replicate the 3M annuity and there is just way too much risk with that company right now.
Definitely do it. It's like having won money at craps in vegas. The next roll could be boxcar or snake eyes if the company goes into chap 11. Your retirement is too precious to let people like mike and monish determine if you have to go through the PGBC and lose up to half of what you would have gotten.
I'm in process of doing it
Yes, i have done the same as my confidence in the management is at its minimum