Pension Plan??

[Jade88]

Hi,
I was hoping someone could help me with this. I have a pension plan that I had with my old employer( I was with them for 14 yrs) that is now frozen, I never contributed to it, and I can't withdraw from it until I'm at least 55(but I would be penalized) or until I am 65(full payment). I will receive a monthly check until the day I die and then my DH would receive half the amount until he dies. I once asked them, when I was really desperate, if I could cash it in and thankfully they said no. Then I asked how much was actually in my pension they said they had no concrete number because my pension amount depends on how long me and my spouse would live. On Schedule B it ask for pension information and the current value and interest of the "property". I don't know what would I would put there? Thanks for your help.

[justbroke]

You can put $1 and make a notation that the amount is unknown. Certain pensions are protected anyhow. I don't know why they can't give you a present value of the pension. Unless it's one of those employer sponsored pensions, that just about every major employer got rid of, they should be able to give you an estimate of net present value.

[Jade88]

Thanks for your quick reply.
The company in question was a lumber company and I started working there in 1987 and the plan is a employer-sponsored plan. I feel old! LOL!