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Can pension benefits taken as a lump sum be paid in one payment or does it have to be paid in an annuity?
Wiki User
∙ 13y ago
This will your choice that you will have to make.
If you choose to take the pension benefits as a lump sum distribution you would receive the total amount at one time.
If you choose to receive it as a annuity you will receive periodic payments over a number of years.
Wiki User
∙ 13y ago
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If you inherited an annuity do you have to pay taxes on it?
I feel like we were taken advantage of...Advised that our inheritance of an annuity was not to be taken in a lump sum, because of taxable income....They talked us into taking another annuity...which we are paying taxes on!What re course do we have, other than a lawsuit?Which I may consider...
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What is the difference between expenses and expenditure in accounting?
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What is money taken from pay and put into a pension fund called?
superannuation - Regular payment made into a fund by an employee toward a future pension.
Can your social security or pension be taken for credit card debt in Pennsylvania?
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Can your deceased husband's annuity be taken away when you remarry?
If you are the primary beneficiary and there are no provisions stating that the funds end when you remarry then no. If the estate is the beneficiary and it states in the documents that you will stop receiving payment upon remarrying then yes. Carefully review all documents as well as contact the annuity carrier for clarification on this.
Is ssi taken out of pension checks?
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If you inherited an annuity do you have to pay taxes on it?
I feel like we were taken advantage of...Advised that our inheritance of an annuity was not to be taken in a lump sum, because of taxable income....They talked us into taking another annuity...which we are paying taxes on!What re course do we have, other than a lawsuit?Which I may consider...
What is the pension for a union electrician?
The amount would vary by location, union, and how much was paid into your fund. I have 36 years in the trade and i am retiring at age 55 with a pension of 2900 with a 50% spousal option that brings my pension down to 2610. Our union doubles our pension from age 55 to 62 if you meet certain requirements, that I meet. This brings my retirement to 5510 gross dollars a month. I do have to pay federal tax out of this, but no FICA, state tax our union dues. We also have an annuity fund that I have been in from its inception in 1981. As of 2/1/2011 i have 510,000 in this fund. When I reach 62 the double pension will stop, but the NEBF and the international pension will start along with social security. The total retirement with all four sources will be about 5600 dollars plus any money taken out of the annuity. This amount is not the average pension a union electrician will make, but one who worked out of the north east with no lost time and at foreman and GF rate.
Do you loose your widows pension if you live with someone?
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How do you have extra income tax taken off your pension?
You will have to use the 2010 Form W-4P Withholding Certificate for Pension or Annuity PaymentsUse Form W-4P to tell payers the correct amount of federal income taxto withhold from your payment's.The instructions are with the form.Go to the IRS gov web site and use the search box for W-4PClick on the below Related Link
Will your social security go up every year you keep working after 62 if you are already drawing social security?
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If a company is taken over or bought, the employee with a pension has the right to ask management how the pension is going to work. If an employee has money tied up in an IRA, then the company can refund that money to start a new program or continue the program.
Where to find H F Ahmanson and Co employee pension fund?
I am looking to contact the Plan Administrator and address of the H F Ahmanson & Co. They were located at 4900 Rivergrade Rd. and at 1001 Commerce Dr. in Irwindale, CA. 91706-0000. The company was taken over by WAMU and I am trying to located then concerning pension benefits had with them.
