I am 33, and after 12 years at a large manufacturer, I am leaving to go work in software. My current employer has a pension plan, which can be taken as a lump sum.
If I were to cash it out the day I leave in January, the pension estimator puts it at around $44,000. I believe I can roll it into a 401k without tax implications. I could also do a traditional IRA (I think) but that interferes with the backdoor Roth.
If I leave the pension at the company, I can also estimate its value in the future as a lump sum (or annuity). It appears to grow between a 3-5% annualized rate depending on number of years. (~3% growth in 1 year, ~5 annualized growth in 32 years)
Is there any reason I'm missing that this isn't an easy choice to take the immediate lump sum, roll it into my 401k, and plan for 7-9% growth in the S&P fund that I'm invested in?