No. of Recommendations: 0
I did 20 years of hard time with my previous employer.

They froze the pension plan in 2006, nevertheless, I am still eligible for a pension based on all my service up to that point.

I am eligible to begin receiving a reduced monthly amount at age 55, or wait and receive the full monthly benefit at age 65.

Additionally, there is an option to receive a partial lump sum in lieu of monthly payments.

I have not yet contacted the company to look into the lump sum option.

What are the calculations and considerations given to taking a lump sum vs. monthly benefit?

Thank you in advance, RS
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement