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I have retired at age 46.

I can receive a lump sum distribution today from my defined benefit program of $74,000.00.

Alternatively, I can leave the $74,000.00 to accumulate at the fixed rate of 5.5%. At age 60, 14 years from now, I can then withdraw a lump sum of $156,738.90 AND receive a monthly pension of $1,273.57.

If I recived the $74,000 lump sum today, what rate of return would I need to produce in 14 years both the principal amount of $156,738.90 and whatever additional principal would be necessary to produce a guaranteed monthly income of $1,273.57?

Thank you, Stu
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