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Can you Cash out a pension plan when no longer employed?

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If it is a traditional pension plan, it depends on the terms of the plan. Call your former employer or look through the plan documents to find out.

If it is a plan like a 401k, then you should be able to obtain the money after you leave your employer. Remember that you will pay taxes on the distribution plus possibly and additional penalty of 10%. Your employer will withhold 20% but the chances are good that you will owe a lot more when you fill out your tax return at the end of the year.
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