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How do I find out what my lazy boy pension is and when can I take it out?

I am 62 and 1 month and thinking of retiring and know I have a pension but don't know how to access my info?

Mar 08, 2015 by JIM in  |  Flag
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3 votes

Jim, If you ask, the La-Z-Boy Human Resource department will be able to generate pension benefit estimates for any scenario of interest to you. This might include benefit estimates assuming immediate retirement, retirement at age 65, or retirement at some later date. Additionally, you typically will have options regarding survivor benefits that will alter the amount of your monthly benefit depending on the option you choose. Finally, don't forget to inquire about any post-retirement healthcare benefits you have earned and how/if those benefits will coordinate with Medicare. Keep in mind that while your HR department will usually be able to provide quick and accurate responses to your inquiries, they won't offer an opinion regarding what combination of choices is best for you. For that, you may want to seek out the advice of a qualified advisor in your area. Mike

Comment   |  Flag   |  Mar 10, 2015

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Billy is correct. The best route to go is to contact the pension company directly or go to HR. Once you get the pension group on the phone (or they direct you online) you should be able to see the current balance of the account and what your income options are. Some companies will even do a projection for you to show you the difference in the amounts if you keep working.

Jim, if you have an advisor, they can always make that call with you to help. If you have any follow-up questions please do not hesitate to message back.

Nick

Comment   |  Flag   |  Mar 09, 2015

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Your best contact is likely the HR person at your employer/prior employer. They should be able to provide contact information where you can access your account, or pension details.

Comment   |  Flag   |  Mar 09, 2015 from El Paso, TX

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Here's the phone number to call and ask specifically about your pension benefits: (734) 242-1444 . And here's a link from the Brightscope.com website to view additional information about your La-Z-Boy profit sharing and savings plans also: http://www.brightscope.com/401k-rating/184654/La-Z-Boy-Incorporated/187569/La-Z-Boy-Incorporated-Retirement-Savings-Plan/. Good luck.

Comment   |  Flag   |  Mar 14, 2015 from Cedar Park, TX

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