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Caesar

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Reply with quote  #65 
Does anyone have anymore information about the Letter that was sent on 10/31/17 stating that if you take a lump sum payment or a rollover your election could be rescinded? Has anyone spoke to a person at Sysco about this?
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MagicChef

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Reply with quote  #66 
You can decide to not take the lump sum and just take it during retirement as intended. You can take the lump sum but you will have to pay the penalty for this, which I am pretty sure is about 20% plus I assume u may be under 59-1/2 years old which is another 10%. I took mine and gave it to my tax guy who also does my 401k investments and he put it in some type of roll over in which I didn’t get penalized. I can check what account he put it in, maybe an IRA.
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Ex driver

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Reply with quote  #67 
Buying a house. Elected to take cash! Just wish.. I knew for sure the check was going to come. Simply because I can use it for my down payment. But the letter said it could be rescinded. Just trying to figure this out.
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binaround

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Reply with quote  #68 
There are no penalties if you choose the DIRECT ROLLOVER option.

I jumped on this the day after I received the letter.

If I keep the pension as is and I die before my wife she gets none of it.  If my wife passes before me and I die, my children get none of it.

Taking the lump sum, as a DIRECT ROLLOVER, gives me full control of the money to invest and pass on.

No brainer.
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Sidney

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Reply with quote  #69 
Quote:
Originally Posted by binaround
There are no penalties if you choose the DIRECT ROLLOVER option.

I jumped on this the day after I received the letter.

If I keep the pension as is and I die before my wife she gets none of it.  If my wife passes before me and I die, my children get none of it.

Taking the lump sum, as a DIRECT ROLLOVER, gives me full control of the money to invest and pass on.

No brainer.


Wise ole owl

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Sidney
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Ex driver

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Reply with quote  #70 
Did anyone last year elect to get a check, and then Sysco rescinded the offer? That is what I’m concerned about. Because we are in the process of purchasing more property. Please advise. Just not sure what it means when they say they can rescind the offer?
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14years

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Reply with quote  #71 
Has anyone gotten there lump sum check yet for this year
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Investigator

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Reply with quote  #72 
Image result for cartoon picture of dog poop
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Angler197

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Reply with quote  #73 
Quote:
Originally Posted by 14years
Has anyone gotten there lump sum check yet for this year

They start sending checks I believe the 29th of December once you complete and they review your information sent to them. Info was from the 800 number.
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Big Willy

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Reply with quote  #74 
I have not gotten mine yet.
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Ex driver

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Reply with quote  #75 
I called few weeks ago. Ladysaid checks would be cut after nov 22. Get them mid December.anyone get one from Sysco in past? Did anyone have there’s rescinded?
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shuttle driver

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Reply with quote  #76 
my paperwork said  i would get 46,000.00  for 8 years of service  it would be taxed at 20%  im past 59.5 years old  so no penalty  has to be post marked by 11-22-17.
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Ex driver

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Reply with quote  #77 
Shuttle driver, are you doing it? I’m buying property and now counting on mine. Little nervous cause The letter I got said that it could be rescinded. Wondering if it said that to the guys they got it last year? Also wondering when we will get the checks? To those that got them last year. Again a little nervous about this rescinded part. Coming at a great time as we are buying a nice piece of property. So kind a need to know
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Big Willy

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Reply with quote  #78 
I think it really depends on how much money you are getting back on the lump sum? The more money you are granted, probably the bigger chance they decide to decline. I noticed last year the amounts were lower then this round. Just my thought.
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14years

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Reply with quote  #79 
I spoke to one of the reps today that said it depends on how many people took the lump sum.That they had a specific amount as a whole before they would rescind the offer
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Halp1567

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Reply with quote  #80 
Did they say when they would notify if they choose to rescind?
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