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I have to agree with you an all points you listed.

The type of annuity offerred is a fixed annuity and they are pushing it because they contend that as we get older we/I will not be able to make sound judgements with my money and an annuity takes that worry away.

I am not buying that.

Further more the company says it is having problems with the posibility of to many people retiring in a short span and say that their defined compansation plan is under funded and I believe that they feel in is better to pay smaller monthly ammount rather than a large ammount of lump sum payments.

The 401k is my option and it would be unwise to sink it all into an annuity because I cannot stop the monthly payments if I don't need them. Please correct me if I am wrong about that aspect.

One hypo the gave us so far is if I was 50 and worked till I am 60; I would be receive an annuity payment of $1100/mo if I elect a single life option; the only other option is joint survivor.

Using some annuity calculators online the company would have to pony up around $190,000 in 10 years. That is over 23% of my annual salary per year to this annuity.

Please check this figure if it is not to much trouble....

Thanks Floyd

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