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When the interest credit rate exceeds the mandated section 417(e) discounting rate, the legally mandated lump sum value payable to the employee [if the plan sponsor allows for pre-retirement lump sums] would exceed the notional balance in the employee's cash balance account. This has been colourfully dubbed the "Whipsaw" in actuarial parlance.
Personal finance. Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns.
Taxes on the lump sum payment are pretty straightforward, but depend on where you live. ... It may not end there, however, as the windfall could raise your tax rate to the maximum 37%, which kicks ...
Yes. Qualified distributions are tax-free. As shown in the table, traditional IRA accounts allow you to contribute with pre-tax income, so you don’t pay income tax on the money that you put in ...
A lump sum could be $10,000, $50,000, $200,000 or any amount that is large given your situation. You might find yourself with a lump sum for any number of reasons. Perhaps you received an inheritance.
The lump sum handbook: investment and tax strategies for a secure retirement, Anthony Gallea, Prentice Hall, 1993, ISBN 0131003062; Lump-sum distributions from retirement saving plans: receipt and utilization, James M. Poterba, Steven F. Venti, David A. Wise, National Bureau of Economic Research, 1995