Ask them why they won't tell you the amount.Gents,
Thanks for all the input.
What I can't figure out is why would Fidelty offer the below options to my wife, but never provide the lump sum payout amount?
1. Individual annuity
2. Beneficiary annuity
3. Fidelity IRA or 401K
Fidelity told my Wife if she takes #3, Fidelity will withhold 20 percent for taxes. We don't plan to use these funds for at least ten years/ 2033.
Leaning strongly towards #3, but of course need the lump sum amount, and if there is a method to avoid the 20 percent withhold.
Your wife has no statements?
Was the money originally pre-tax dollars?
IF so, Tell them (don't ASK) to roll it to an IRA
But now I'm thinking it was not a savings thing, rather just a "regular" pension. I bet the lump sum is not large. Maybe just be happy with the $1200/month. I had the same dealio from a buyout earlier on, near the same amount. The payout was not large, but you guys WILL like the $1200/month. That's like AM dining out all week.