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I am taking an early retirement at age 56 from my company under conditions which allow me immediate, life time pay outs from the company pension plan. Since I plan on taking a 100% pension payout, there is a good chance that at sometime - tommorrow or 20 years from now - I will die and my wife will get nothing from the pension.

One option is that my company will permit a lump sum payout from its pension plan of approx $190k.

An idea that was presented to me was that I could, under rules in IRS Pub 575, roll the lump sum into an immediate, fixed length, **penalty free** annuity for payout to bridge me from my retirement to when I could access my 401k & IRA funds at 59 1/2.

My questions:
a. Is the idea's feasibility based on Pub 575 valid?
b. Any thoughts as to this lump sum rollover's pluses/minuses?
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