Retirement “Bonus”

I received a notice in the mail yesterday from Fidelity about the retirement money that I received as a graduate student in San Diego. Two years after I finished up my Ph.D. and turned in all my paperwork.

It isn’t a lot of money, only $326. We only received retirement during the summers, and I didn’t receive this for the last 3 summers I was there because I was on a fellowship. So I only got two summers worth of retirement benefits.

That is beside the point though. I essentially have two options:

1) Put the money into a Fidelity IRA.
2) Take the cash, and pay 20% interest on it.

My “gut” reaction is to want the money. 80% of $326 is still a fair amount of money that could go onto my debt. And it seems especially silly to open up a IRA with so little of a balance. However, currently my NEW retirement at my new university is through both Fidelity and TIAA. So I’m going to call up Fidelity next week and ask them to roll over my retirement funds from my old retirement account into my new account.

I’m hoping that shouldn’t be a problem – since I’m keeping it in the same company I don’t see why it should be a problem. I totally forgot about this money. It is nice to have an extra $326 that I didn’t know about.


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