Resolved Question: pension - Life Annuity?
I recently discovered that I really have a pension coming.
I worked at Rockwell in the 80's-90's and rolled over my savings 401k to IRA in 1995 after layoff.
Last week discovered that I still have a pension despite being told then I didnt qualify.
This pension is now a Boeing pension (part of why I now qualify).
QUESTION:
The pension is a 'Life Annuity' and is not roll overable or lumpsum available.
Short of waiting till retirement… Is there a way to sell it?
If not I have every intention to wait till age 65 (im 49 now) to collect the pension for life. And the pension is small its about $400 (w/wife 100% option).
Btw, I have other $$ and pensions so this one is extra.
but if I could get the pension totally now I would do better than 5.25% that the pension does to give me the life annuity?
I assuming this idea is definatley a no-no.