OK, so I posted about the drawbacks of taking the lump sum, but I'm pretty confused now.

http://forum.mrmoneymustache.com/investor-alley/negatives-of-lump-sum-pension-rollover-to-ira/I had received a statement that said my cash balance pay as of May was 38,782.36. The guy on the phone had told me that this would be what I was receiving. I was thrilled. I'm very far away from any real retirement dates.

Well, I got the check and it was just shy of 12k. Very different. While talking with a new guy today, he basically said that the cash balance pay is a number that gets spit out by a formula, and that my lump sum is the real number.

I mean, I'm glad I get the extra money to roll over into an IRA and all that, just disappointed that either I'm dumb about how the whole pension works and would like someone to try to explain this to me.

While talking to the new guy, I did find in my paperwork that it says that a lump sum payout would be right around the 12k I got (actually a little lower). So does this sound right with everyone? I'm just confused about what the Cash Balance Pay even means.