Thread: End the Pension Now, replace it with…
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Old 10-29-2024 | 12:56 PM
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Originally Posted by UnusualAttitude
Can they just lump sum contribute into your 401k beyond traditional IRS limits? Legitimate question. Not sure that is possible.
Originally Posted by rickair7777
Con: Big tax hit immediately, you can't just dump all of that into a 401k, pre-tax IRA, or even a Roth. Annual contribution limits would apply and also taxes.

Need to get more creative on the distribution.
The previous NC introduced a concept to convert the current accrued benefit in the Pension plan as a pre-funded lump sum balance in the MBCBP. So maybe it can be done?
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