First, I recognize this may be an old question answered many times on this board, so thanks for your patience.

My employer has dissolved its pension fund in order for it to access the surplus (and established a new one, thank goodness). I have a choice of (1) having the company buy an annuity for me or (2) taking my distribution and putting it into a tax-deferred account. I am seriously considering the latter, as deferred annuities typically have low return rates (built-in fees, if nothing else).

But, if I take the distribution, I want to put it into something(s) that has moderate (or less) risk in anticipation of higher returns. My question is, what should it be put into?

I have at least 10 years until I need the money.

I'm considering something with Vanguard, perhaps
50% broadly diverse U.S. fund
10% internatinal fund
10% REIT index fund
15% money market fund
15% intermediate-yield bond fund

And I would not mess with any of it for 10 years, avoiding the temptation to act as if I am smarter than I really am.

What do you think? Are there better alternatives?

Thanks,

David