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Tedferg,

<<I think my basic questions have been answered, thanks.
a) A finacial advisor sends email to Pac Bell near retirees and quotes examples of lump sum payouts. These vary according to a 'percentage rate' which changes quarterly. I had thought the % was derived from an internal return rate for Pac Bell (SBC) When I saw PBGC comments it seemed the % rate might be a general number for all plans.

b) Basic question about taking lump sum versus annuity is already stated as 'Probability you can beat return on Annuity AND you have the principal to draw down if needed'

So final question: Would it make sense to compare Annuity return rate with say very secure govt bonds, in that it should be the least aggressive part of one's portfolio ?>>

Yes, that's a reasonable approach.

Regards.......Pixy
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