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Financial Smarts Newsletter


Financial Smarts spotlights important consumer topics such as insurance, retirement planning, saving, investing and other financial considerations people will face in their lifetimes.

Spring 2015

"Lump Sum Option"

As an alternative to a guaranteed lifetime pension, some pension plans offer a lump-sum option. This means that instead of the monthly pension payment, the retiree takes a one-time lump sum based on a number of calculations. With the lump-sum option, the retiree assumes the longevity and investment risk that the employer would usually assume with a traditional pension plan.

                                                                     

Read the Spring 2015 Financial Smarts (PDF) and learn:

                             

  • how a lump sum option is calculated
  • questions to consider when choosing a lump sum option
  • some possible pros and cons of electing to take a lump sum option
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These materials are intended to provide general information and should not be used as a substitute for legal or other professional advice. Every effort has been made to ensure that the information contained in these materials were true and accurate at the time of publication. Some information may have changed since publication.






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