how to model deferred lump sum pension?
I have a Cash Balance Plan defined benefit pension. It's defined contribution by the employer while employed, then the balance is available to me as a defined benefit at retirement. The cash balance can be used to purchase an annuity or taken as a lump sum and rolled over to an IRA. (I also could take it as a lump sum and pay income taxes on it, if I wished.)
I currently have it modeled as a lump sum rollover by setting my last year's employer retirement match as the amount I'd normally get as my match, plus the balance of that cash balance plan.
I'd like to determine the benefit of leaving it with the employer and taking it at some point in the future. How do I do that if I can't record an employer contribution after my retirement date?
Can I set the age at last contribution later than my retirement? FWIW, I don't have to set my first smooth withdrawal to coincide with my retirement because I'm dependent on large special withdrawals in the first few years, to support me while deferring social security.
Alternatively, what are the ramifications of setting my retirement date later than I actually plan to retire, to enable a late employer retirement contribution? I don't plan to start smooth withdrawals until age 70, which is the time I intend to start social security and take the cash balance plan as a lump sum.
Contributions from other users are appreciated.