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Rob Schultz, CFP®, PFP

Sep
02
Sitting tight: Why electing a lump sum payout may not make sense
One of the most difficult analysis that a financial advisors can be asked to make is whether a client should take a lump sum or a monthly pension. Most pensions are covered by the Pension Benefit Guaranty Corp. (PBGC) which aims to ensure promised payments from an employer. The premiums for retirement plans to participate in the PBGC are going up dramatically by 2016.  This cost seems to be motivating employers to offer lump sum buyouts in higher frequency as I've seen an increased amount come across my desk this year. While the numbers vary for each person and situation, here is the analysis I recently used for a client who was still working. The former employer offered three options: 1) take a lump sum payout 2) collect a reduced amount...
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