[remmus]

I am 63 years old. Would like to retire from Goodyear Tire where I had 20 years employment before Loral bought Goodyear Aerospace in '87. Goodyear tells me my Goodyear pension could be subject up to 10% tax penalty if I start that pension before retiring from my current job at a successor company (we've been bought & sold 4 times since Goodyear). Goodyear can't tell me how much the penalty will be but they say I would lock it in for life by retiring from Goodyear before my current job. What is the amount of the penalty based on - my age, my current salary, etc. and will penalty continue even after I retire from my current job? If based on age I'd expect it to be less than 10% for me.

They also mentioned a 417(e) calculation factor of .0924 which becomes .0840 at age 65. Goodyear told me this does not change with retirement age but if that is true, why the difference between now & when I become 65?

[palberts01]

Hi,

I'm cashing out my 401K and have a loan against it and they state that my total disbursment is going to be X amount and the loan is included in that. Do they deduct the loan money prior to disbursment or does that money come to me too? I just a bit confused on that. And is it 20% taken from that or is there more taxes withdrawn for early withdrawl?