AZ did a payout offer to those in the old AZ plan a few years back. does anyone know if they are going to offer that again soon? I could use a little lump sum to get my own side gig going. Can we ask for a payout?
No golden handshake in the near future. AZ is actually going to expand in various areas so no need to downsize now. We are "right sized." You can quit and elect to receive a lump sum with half going to taxes.
Total bullshit by someone who does not know anything about the AZ retirement option and hopefully doesn't qualify either. The lump sum pension payout is in the form of a 401K and is not taxed unless you withdraw it. The separation package if you are lucky enough to have the choice is taxed as regular income.
You're an idiot too! The 401K is NOT a pension dumbass. IF you are under the defined benefit plan, you are eligible for a lump sum payout, but you needed to be here before 2000.
Right, the 401K and defined benefit (if you have one) are separate. The pension can either be taken as a lump sum, or as a pension in the form of a monthly annuity (at age). Whichever choice, once done, is final. Many have taken the lump sum and rolled it over into an IRA, usually combining it with the 401K (to IRA) to increase the investment.
I didn't say the lump sum was the same as our 401K. I said it wasn't taxed unless you fail to roll it into an IRA account which acts just like our 401K. Same thing dumbass.
You said nothing of the sort you stupid shit! Your post is #3, and shows you are the perfect example of why we need a huge layoff at this shithole!
Look asshole. For the final time, the lump sum payout is not taxed unless you are dumb enough not to roll it over into an IRA which acts just like your 401K. If you take money out of your 401K, what happens? Right. You pay a tax. If you put it in an IRA and leave it there it is not taxed until you withdraw it. Your original post was that the lump sum would be cut in half by taxes. That was the only really stupid post in this entire thread. So for the final time. When you retire and take the lump sum, you can roll it into an IRA or into your 401K. Simple enough for your pea brain?
You CANNOT roll a lump sum pension payout into a 401K. It has to be an IRA. If you can, please post a link or article that says you can.
