Content, Pictures and Download links visible to registered users only. REGISTER NOW to access all areas that are invisible to non-members.
Down girl. Just trying to help. I know this is a rough time as I've been there before myself.
The thing to understand is that any money invested as a pension or retirement for you or by you is governed by federal laws and regulations. That means that you the receiver are responsible for the penalties and taxes. Doesn't matter that "you" didn't put the money in from your own pocket. Especially if it's considered fully vested. That's really odd too. I've not heard where a pension is fully vested that quickly and only a few where the employee isn't required to invest too. There's regulations which limit the amount an employer can contribute and that's usually equal to and less than the employee's contribution. I believe it's a total of %14/income. Any more and it's not tax-exempt.
Just be careful here. I could be way off on your particular case since I don't have the paperwork to look at, but something sounds fishy. Maybe have one of your family or friends who are investment savvy look it over before you sign anything.
I did do a bit of checking and know that if the money is truly designated as pension (that's the word you used vs. 401k, IRA, etc.) then they can not force you to cash out. They can tell you you have too and let you sign the paperwork to do so, but they can't force you to. That's VERY illegal. Now, that said, they can force you to remove the money from their institution. This can be done by rollover or cash out, etc.