[Boomer]

You might think, "What's Boomer's problem, starting this thread? Is she trying to win some kind of Downer of the Day award? Is she looking to be a target for strategically aimed rotten fruit?"

Well, no. Just passing along some information from a couple of things I have been reading, about how pension funds are doing. Just in case anybody needs to know this stuff and has missed it and might catch it here.

Articles are beginning to show up about what's going on with a lot of private sector pension funds. March 2009 Kiplinger's Personal Finance magazine has a good one, "Is Your Pension Fund Still Safe?" (Under the title it says, "Probably But New Rules Could Make It Harder For You To Get All Of Your Money.")

Kiplinger's Retirement Report which I think is available by subscription only has a similar article in the February issue.

One of the things addressed can be especially important to those who have not yet retired but plan to soon and plan to take the lump sum. If that's you, find out the funding status of your pension. There could be lump sum restrictions for underfunded plans.

In fact, if that's you, thinking lump sum, and you have not heard this, please get thee immediately to the store or library and get your hands on the March issue of Kiplinger's Personal Finance and read the article on p.58. (I had hoped to be able to link it here but I cannot find it on their site. They are still in February it looks like. But sometimes I can't find stuff.)

Here are a couple of websites mentioned in the articles.

This one might help you find your company's status:

http://www.pensionrights.org/

And this one is for the PBGC and tells about what happens if it has to take over:

http://www.pbgc.gov/

So just in case, especially if there turns out to be a deadline for you.........

Forewarned is forearmed.

But I sure hope all the news you get is good news.

Boomer

[JohnN]

Hello Boomer, you know my thoughts!

My theories holds sound in these difficult economic times.

1) One can have a fabulous retirement, as long as one doesn't live very long.
2) Beans get to tastin' really good once you get used to 'em

Keep holding on tight, the ride ain't over yet.

[Boomer]

I started this thread a few days ago on the outside chance that somebody out there in TOTVland might need to know this stuff, but might not know this stuff. This has to do with what is happening with some private company pension funds where the lump sum payout is concerned.

I linked a couple of things in the first post, but today Kiplinger Personal Finance magazine put the March issue on their website so now I can link the entire article for you.

This might be of interest to those who have not yet retired, who have pensions coming from private companies, and who are thinking about taking the lump sum payout. Under the new rules, taking the lump sum may not be allowed. Here is the link to the article.

http://www.kiplinger.com/magazine/ar...till-safe.html

Boomer

[Cassie325]

Boomer....this was helpful to my family...it was read and passed on many times. thank you for posting...I am sorry I didn't let you know....just needed to get it passed on ASAP. Very helpful and informative.

thanks so much!

[Boomer]

Originally Posted by Cassie325

Boomer....this was helpful to my family...it was read and passed on many times. thank you for posting...I am sorry I didn't let you know....just needed to get it passed on ASAP. Very helpful and informative.

thanks so much!

Cassie,

You are very welcome. I read 4 or 5 financial publications each month and when I see something that might be helpful or possibly even really important to others here on TOTV, I pass it along. This one applies only to some private company pension funds. And that deadline is coming fast.

Once in a while I mention something from Kiplinger's Retirement Report which is my favorite of all the things I read. That one is available by subscription only. It has 18-20 pages and very few ads. Every article has to do with retirement. There is a little duplication with the news stand Kiplinger's Personal Finance, but not a lot. You can subscribe through the Kiplinger website. It also can be a practical present to give to somebody approaching or in retirement.

Here is the link. It is the second one down on the left and you can click on a sample issue.

http://www.kiplinger.com/store/

I am not selling magazine subscriptions door to door or anything. But I do know how important a heads up can be when planning for or in retirement.

Boomer