No. of Recommendations: 0
Much can change in twenty years too. Company goes bankrupt, bought out, poorly handles the pension fund (California or Chicago anyone?), etc. I'd rather be in control of my money and take the risk and responsibility.

I guess it really depends on what you think is the chances that the company will survive and the pension fund remains viable. Hawkin has done a good analysis of the options. The OP has not mentioned the company's name. We're in the same position as the OP. We're looking at the options right now. For us, I feel a bit comfortable that the company will be around in 19 years. It's a 100 plus year old German pharmaceutical company that will remain nameless. I think it will survive but things can happen.

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