Some background - I worked for one of the large Telecoms for almost 18 years until this past May when sweeping rounds of layoffs finally caught my workgroup. There's some political BS going on, but oh well.
I got a pretty solid severance package, and my 401k is doing pretty well - I've just turned it into a standalone account and kept it at Wells Fargo where it was being managed before. No more contributions, but it keeps earning.
I've landed a new job, and I'm enrolling into their corporate 401K moving forward.
Now, I just received notice that my Pension with my former employer is due to begin distributions in November, since I'm no longer with that company.
Caught me a little off guard, because I never remembered being part of a corporate pension plan. Thinking back on it now, this was from yeaaaars ago before the company moved away from a Pension to a company supported 401K program.
The lump-sum value of this pension is a little north of $12k - and the disbursements are ~$30/month, which I really don't want to collect on at this point - I'm only 43 and have no need to pull from that fund.
What's my best opportunity here, especially with keeping my tax liability down - roll over to a IRA? Hookers & blow? I'm not a financial genius when it comes to investments.