QUESTION

Can I roll over my American Airlines pension to an IRA?

Asked on Jan 07th, 2013 on Bankruptcy - Texas
More details to this question:
1. I worked at AA for 13 years 2. I was laid off after September 11 event. 3. I have a pension account at AA
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1 ANSWER

Adoptions Attorney serving Houston, TX at The Bergman Law Firm
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Don't even think about that unless you put it somewhere where the funds are safe, and you can never take them out and use for living expenses. Everyone that I know that has taken out their pension and thinks they can do better with the money lose all of it. Putting the funds into some type of irrevocable trust is the only recommendation that I would give you.  Protected from you, your creditors and anyone else who might see you as a target. As in a new spouse.
Answered on Jan 13th, 2013 at 11:45 AM

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