Should You Take a Lump-Sum Pension Payment?

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Will this be offered to hourly retirees' as well?

Gail Dix of MI 10:46PM June 19, 2012

Don't take the lump sum...Take the monthly pension checks! Once that lump sum is gone, it is gone forever!!!! That monthly check will be there until the day you die.

Maggie of TX 5:23PM June 19, 2012

There is no guaranteed income for life in this brave new world. Just ask the United Airlines Pilots. When their pensions were no longer able to be funded the government PGBC took over and after many months of haggling, they had to accept a 20% cut in their pensions period. Taking your own money means you own it and must manage it true, but when the government or business games change, you have much more control over what will happen to your money.

nancy of OR 1:50PM June 19, 2012

On June 1, GM announced their intention to alter their pension plan. These alterations will reduce their pension plan liabilities by an expected 26 billion dollars. The complex plan has both an option for selected U.S. GM retirees to take a lump-sum payment offer, while other retirees have the option to continue receiving monthly pension payments. More information on pension plan details is outlined at: http://www.gmpensionbuyout.info. Any GM retiree that is affected by these changes is strongly urged to seek advice from a qualified financial planner, as the decision deadline of July 20, 2012 is quickly approaching.

Smith of AL 2:43AM June 16, 2012

Will PBGC cover current payment method (no change), this is not clear to me

M McGrath of MI 1:44PM June 14, 2012

I am 75 and qualified for the reverse mortgage, I spoke to many local brokers and banks but none helped me as much as this website - they pretty much compared all the loans for me and helped me et the interest down (closing costs too) the website is http://www.reversemortgagelendersdirect.com/ their number is 877 700 0534

williamsmith320 of NY 12:52PM June 14, 2012

There is a very good pension vs lump sum analyzer that can be used to help...
http://www.cesboston.com/pensionvlumpsum.html

steve richards of FL 4:46PM June 12, 2012

My offer was not enough to even consider. I will continue with the normal pension paid monthly.

MCain of AR 10:56AM June 12, 2012

So is the lump sum connected to social security and what ever was put in is drawn out or is it just through the company?

Joana of TX 6:33PM June 11, 2012

I am 75 and qualified for the reverse mortgage, I spoke to many local brokers and banks but none helped me as much as this website - they pretty much compared all the loans for me and helped me et the interest down (closing costs too) the website is http://www.reversemortgagelendersdirect.com/ their number is 877 700 0534

davidsmith853 of NY 11:34AM June 11, 2012