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How did you decide that they are using 6% --- actually that is quite high & may have built in mortality assumptions. The true test is to do the math yourself, e.g. the periodic payment in one hand and the lump sum offered in the other. As an example; if monthly benefit * 12 / lump sum = 6%; then, at a minimum, you should be able to take the lumpsum & direftly transfer it to SunAmerica / Aetna / NWMutual / etc. & achieve a better periodic benefit; or you could take the lump sum; rollover to an IRA, take part and buy an immediate annuity & take the other part & venture into the murly realms of investing on your own.

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