... never heard of such a plan as likely newly engineered. But interesting to be able to have "contributory Flex Options" in a "DB" pension plan. Does the employer not contribute anything? Is there no pension document given by your SO's HR department?My SO is one of the few people, these days, to have a DB Pension Plan.
As a part of this pension plan they also have Flex Options that they can contribute to, which include things such as: Early Retirement Pension, Bridge Benefits, Survivor Benefits and more. Participants are able to contribute to their Flex Options any time and can choose the amount they contribute. However, it's not clear on how much "should" be contributed for each of the options (or costs of each option) and if there is excess amount in the Flex account you can lose the money.
Anyone else have a similar type plan? Would appreciate any thoughts or inputs on how much we might be able to contribute without worry about losing this in the long run?
Likely haven't shared enough information related to this, but wanted general insights on flex options for DB Pension Plans and possible insight on how to calculate what you should contribute for various options.
Thanks in advance